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

question 41

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) Commonly financed through voluntary contributions.
• D) Operate for the direct benefit of members.

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Definitions:

Bankruptcy

A legal process through which individuals or businesses unable to meet their financial obligations can seek relief from some or all of their debts.

ROE

Return on Equity, a measure of a corporation's profitability that shows how much profit a company generates with the money shareholders have invested.

Business Software

Computer software designed to help individuals and companies conduct their business activities more efficiently.

Integrated Oil and Gas

Integrated oil and gas companies are those involved in the entire value chain of the oil and gas industry, including exploration, extraction, refining, and distribution.