Which of the following is not a characteristic that distinguishes a private not-for-profit organization from a business?
A) Contributions are from resource providers who expect nothing in return.
B) Financial statements are intended primarily for use by creditors.
C) Operating purposes are other than to provide goods or services at a profit.
D) Absence of ownership interests.
Correct Answer:
Verified
Q103: According to FASB,which of the following is
Q104: The primary users of the financial statements
Q105: Which of the following is not true
Q106: FASB statement 116 requires contributions to be
Q108: A donor made a cash contribution of
Q109: Contributed service to private not-for-profit's is recognized
Q111: The Statement of Functional Expenses:
A) Is required
Q112: Which of the following is not an
Q112: Which of the following would not be
Q114: A Statement of Functional Expenses is required
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