DISCUSSION QUESTIONS
1. Name the four classes of nonexchange transactions defined by GASB standards and explain the revenue and expenditure/expense recognition rules applicable to each class. In your post, you will need to provide examples of each type of nonexchange revenue.
2. Explain the difference between a program revenue and a general revenue. Why does the GASB require this distinction? Be sure to include the sources of the funds and the specific categories that they fall in.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.