Gains Differ from Revenues Because Gains

question 30

Multiple Choice

Gains differ from revenues because gains:

• A)are not a result of the entity's ongoing, central operations.
• B)do not have to be realized.
• C)are reported as income from operating activities.
• D)do not involve any offsetting costs or expenses.

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Definitions:

Age Discrimination in Employment Act

A U.S. federal law designed to protect workers 40 years of age and older from discrimination based on age.

Unemployment Insurance Program

A government program that provides temporary financial assistance to individuals who have lost their jobs through no fault of their own.

Social Security Act

A law enacted in 1935 in the United States to provide for the general welfare by establishing a system of federal old-age benefits, and by enabling the states to make more adequate provision for aged persons, blind persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment compensation laws.

Funded

Having financial resources or support provided, typically for a project or initiative.