Examlex
Inmates with recreational activities are less likely to engage in violence.
Basis of Accounting
The methodology under which revenues and expenses are recognized in the financial statements, examples include cash basis and accrual basis.
Statement of Activities
A financial report detailing the revenues, expenses, and changes in net assets of an organization, typically used by nonprofits.
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.
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