Which of the Following Is Not a True Statement Regarding

question 55

Multiple Choice

Which of the following is not a true statement regarding revenues from various types of nonexchange transactions?

• A) Derived tax revenues occur as a result of sales and or income tax.
• B) Imposed nonexchange revenues consist of only fines and penalties assessed by the governing agency.
• C) Government mandated nonexchange transactions includes grants from the federal government to the local public-school system for a free lunch program.
• D) Voluntary nonexchange transactions can originate from a governmental agency or private citizen organization.
• E) Imposed nonexchange transactions revenue recognition is made in the time period when the resulting resources are required to be used or in the first period in which use is permitted.

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Definitions:

CEO

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Corneal Blindness

A condition where the cornea, the clear front surface of the eye, becomes opaquely damaged, leading to impaired vision or blindness.

Teach for America

A nonprofit organization in the United States focused on addressing educational inequity by recruiting and training teachers for schools in low-income communities.

At-Risk Youth

Individuals, typically under the age of 18, who are considered to be at a higher risk of facing adverse outcomes such as failing in school, substance abuse, or criminal activity due to their social, economic, or family circumstances.