According to FASB,which of the Following Is Not Something That

question 117

Multiple Choice

According to FASB,which of the following is not something that distinguishes a private not-for-profit organization from a business?

• A) Absence of ownership interests.
• B) Operating purposes other than to provide goods or services at a profit.
• C) Lack of ability to earn a profit.
• D) Contributions of significant amounts of resources from resource providers who do not expect commensurate or proportionate pecuniary return.

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Definitions:

Medications

Substances used to treat or prevent diseases and conditions.

Dependent

A person who depends on another person for financial support.

Financially Dependent

A status describing individuals who rely on others, typically family members or guardians, for financial support.

Hiring

The process of finding, selecting, and employing people to fill job positions within an organization.