The Following Are Key Terms in Chapter 4 That Relate

question 57

Short Answer

The following are key terms in Chapter 4 that relate to exchange and nonexchange transactions:
A.Derived tax revenues
B.Exchange transactions
C.Nonexchange transactions
D.Imposed nonexchange transactions
E.Voluntary nonexchange transactions
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____ 1. Transactions in which the donor derives no direct tangible benefits from the recipient agency
_____ 2. A classification of nonexchange transaction,such as income or sales taxes
_____ 3. A category of nonexchange transaction that includes certain grants and entitlements and most donations
_____ 4. A category of nonexchange transactions,such as property taxes and most fines and forfeitures.
B. Exchange transactions
C. Nonexchange transactions
D. Imposed nonexchange transactions
E. Voluntary nonexchange transactions
For each of the following definitions, indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____ 1. Transactions in which the donor derives no direct tangible benefits from the recipient agency
_____ 2. A classification of nonexchange transaction, such as income or sales taxes
_____ 3. A category of nonexchange transaction that includes certain grants and entitlements and most donations
_____ 4. A category of nonexchange transactions, such as property taxes and most fines and forfeitures.

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Definitions:

Economic Well-Being

The state of having financial health and stability, access to essential services, and the ability to meet personal and familial needs.

Interpersonal Reason

The capacity and process to think about and understand the reasons behind other people's behaviors and actions within social contexts.

Social Class

A categorization within society determined by social and economic levels.

FICA-OASDI

The Federal Insurance Contributions Act Old-Age, Survivors, and Disability Insurance program, which funds Social Security and is paid for by payroll taxes.