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GAAP Definition
Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting used in any given jurisdiction, especially in the United States.
Nonreciprocal Transaction
A transaction where one party provides goods, services, or assets without directly receiving something of equivalent value in return.
Unconditional Transfers
Transactions where the giver provides assets or resources to another party without any specified conditions for their use or return.
Donor Restrictions
Conditions placed by donors on the use or timing of use of donated assets, requiring organizations to use the assets as specified.
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