A Characteristic Common to Banks,utilities,and Transportation Is That They

question 42

Multiple Choice

A characteristic common to banks,utilities,and transportation is that they:

• A)are all government owned.
• B)are not subject to the rules of the FASB.
• C)are monopolies.
• D)each have a uniform system of accounts established by a federal regulatory agency.
• E)never go bankrupt.

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Definitions:

Unrestricted Contribution

Donations made to a not-for-profit organization without specified restrictions, allowing the organization to use the funds for any purpose.

Operating Contribution

The portion of revenue that remains after variable expenses are subtracted, indicating how much contributes to covering fixed costs and generating profit.

Restricted Contribution

Funds given to an organization with specific conditions attached regarding their use.

Donation Revenue

Income received from giving without the expectation of receiving something in return, typically for non-profit organizations.