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 without an expectation of receiving equivalent value 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
Q82: The Statement of Functional Expenses:<br>A) Is required
Q83: Which of the following statements is not
Q84: Which of the following statements is<u><b>not</u></b> accurate
Q85: Accounting practices of private sector not-for-profit organizations
Q86: The following treatment is correct with regards
Q88: FASB Statement 124, Accounting for Certain Investments
Q89: Fixed assets may be recorded by a
Q90: Private not-for-profits must follow all applicable FASB
Q91: Contrast the reporting of mergers and acquisitions
Q92: Private not-for-profits must follow all applicable _