Which of the Following Is Common to Both Governments and Not-For-Profit

question 21

Multiple Choice

Which of the following is common to both governments and not-for-profit entities but distinguishes these entities from for-profit entities?

• A)The budget is a legal, financial document.
• B)Revenues are usually indicative of demand for goods or services.
• C)There is direct matching of revenues and expenses.
• D)There are no defined ownership interests.

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Definitions:

Utility Function

A mathematical representation of how consumers rank different bundles of goods based on the satisfaction or utility those goods provide.

Indifference Curve

A graphical representation of different bundles of goods between which a consumer is indifferent, showing the combinations of two goods that give the consumer the same level of satisfaction.

Horizontal Axis

In a graph or chart, the horizontal axis is typically used to represent the independent variable or the base measurement.

Vertical Axis

In a graph or chart, the vertical line or axis is typically used to represent the range of values for a dependent variable.