Which of the Following Is Not a Distinguishing Characteristic of a Private

question 69

Multiple Choice

Which of the following is not a distinguishing characteristic of a private not-for-profit organization according to FASB Statement No.116?

• A) Operating purposes other than to provide goods or services at a profit.
• B) Absence of ownership interests like those of business enterprises.
• C) Contributions of significant amounts of resources from resources providers who do not expect commensurate or proportionate pecuniary return.
• D) Upon dissolution of the organization, remaining assets are to be distributed to the original contributors.

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Definitions:

Training Outcomes

The specific knowledge, skills, or abilities that learners are expected to gain as a result of participating in a training program.

Catalyst

A substance that increases the rate of a chemical reaction without being consumed or altered in the process.

Disability Insurance

A type of insurance that provides income in the event that a worker is unable to perform their work and earn money due to a disability.

Disabling Condition

A physical or mental condition that significantly restricts one or more major life activities.