Which of the following is a distinguishing characteristic of a nonbusiness organization?
a. Its revenues do not exceed its expenses
b. There is an absence of ownership interests that can be sold, transferred, or redeemed
c. It does not depreciate its capital assets
d. It does not charge fees for any of its services
Question 2
Which of the following accounts would be increased with a credit?
a. Land; Accounts Payable; Drawing
b. Accounts Payable; Unearned Revenue; Collins, Capital
c. Collins, Capital; Accounts Receivable; Unearned Revenue
d. Cash; Accounts Receivable; Collins, Capital
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