Which of the Following Characteristics Distinguishes a Government or Not-For-Profit

question 42

Multiple Choice

Which of the following characteristics distinguishes a government or not-for-profit entity from a business?

• A)There is always a direct link between revenues generated and expenditures/expenses incurred.
• B)Capital assets are used to produce revenues and save costs.
• C)Revenues are always indicative of demand for goods and services.
• D)The mission of the entity will determine the goods or services provided.

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Definitions:

Gap-Fillers

are provisions in law or a contract that supply missing terms necessary to resolve issues not explicitly addressed by the parties involved.

Minor Differences

Minor Differences refer to small or insignificant variations or discrepancies that do not materially impact the nature or outcome of a situation or agreement.

Nonconforming Goods

Products delivered under a contract that fail to meet the specifications or standards agreed upon.

Counteroffer

A response to an offer in a negotiation that modifies the original offer's terms, essentially creating a new offer.