Figure 23-1 -Refer to Figure 23-1. Which of the Following Correctly Identifies

question 22

Multiple Choice

Figure 23-1
-Refer to Figure 23-1. Which of the following correctly identifies the flow of dollars?

• A)W, X, Y, and Z
• B)K, M, L, and N
• C)C, K, M, and D
• D)A, L, N, and B

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Definitions:

Excess Benefit Transaction

Transactions in which the economic benefits provided by a nonprofit organization to or for the use of a disqualified person exceed the value of the consideration received by the organization.

Employee Compensation

Refers to the salary, wages, and benefits provided to employees in exchange for their work.

Service Contract

A legal agreement between two parties where one agrees to provide a specified service to the other for a specified price and period.

Exceptional Boards

Governing bodies of organizations that are highly effective in providing strategic direction, oversight, and support to ensure success and mission fulfillment.