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What do business enterprises have that NFPs do not have?

1) What do business enterprises have that NFPs do not have?

A) Specified products or services

B) Identifiable customers or clients

C) Employees

D) Boards of directors

Answer:  B

Page Ref: 3

Learning Obj.:  1.1

Difficulty:  Easy

What do you think?

Written by Homework Lance

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The Reporting Entity and Consolidated Financial Statements

Which of the following statements about the adoption of IFRS is true?