Which of the following is true of business firms and nonprofit organizations?
A. Unlike a business firm, a nonprofit organization gets support directly from those who receive the benefits.
B. A nonprofit organization does not measure "profit" in the same way as a business firm does.
C. Nonprofit organizations face competition for customers; business firms do not.
D. Unlike a business firm, a nonprofit organization must take in as much money as it spends or it won't survive.
E. Unlike a business firm, a nonprofit organization needs resources and support to survive and achieve its objectives.
Answer: B
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The amount of the "adjusted balance" appearing on the bank reconciliation as of a given date is the amount that is shown on the balance sheet for that date
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
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Managerial accountants can design performance evaluation systems that encourage goal congruence
Indicate whether the statement is true or false