The Following Are Key Terms in Chapter 4 That Relate

Short Answer

The following are key terms in Chapter 4 that relate to exchange and nonexchange transactions:
A.Derived tax revenues
B.Exchange transactions
C.Nonexchange transactions
D.Imposed nonexchange transactions
E.Voluntary nonexchange transactions
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____ 1. Transactions in which the donor derives no direct tangible benefits from the recipient agency
_____ 2. A classification of nonexchange transaction,such as income or sales taxes
_____ 3. A category of nonexchange transaction that includes certain grants and entitlements and most donations
_____ 4. A category of nonexchange transactions,such as property taxes and most fines and forfeitures.
B. Exchange transactions
C. Nonexchange transactions
D. Imposed nonexchange transactions
E. Voluntary nonexchange transactions
For each of the following definitions, indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____ 1. Transactions in which the donor derives no direct tangible benefits from the recipient agency
_____ 2. A classification of nonexchange transaction, such as income or sales taxes
_____ 3. A category of nonexchange transaction that includes certain grants and entitlements and most donations
_____ 4. A category of nonexchange transactions, such as property taxes and most fines and forfeitures.