Multiple Choice
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 donors.
C) The organization's revenues exceed expenses.
D) Absence of ownership interests.
Correct Answer:

Verified
Correct Answer:
Verified
Q12: While many private not-for-profit organizations use funds
Q12: What financial ratio is most commonly used
Q23: Private not-for-profits use the modified accrual basis
Q54: FASB Statement 124, Accounting for Certain Investments
Q56: Cash flows must be presented separately in
Q66: When preparing the Statement of Cash Flows
Q71: Care Foundation is a voluntary health and
Q72: An intention to give such as being
Q85: Accounting practices of private sector not-for-profit organizations
Q128: FASB Statement 124, Accounting for Certain Investments