Government grants, membership fees, donations, sales from a gallery shop could all be categorized as:

Question

BlackTom AI · Accepted Answer

Consider the overall income streams described: government grants, membership fees, donations, and sales from a gallery shop.
Option 1: Revenue. These items represent typical income a nonprofit or organization earns from its activities or operations, so labeling them as revenue is appropriate. This term captures the inflows generated from both program-related activities (sales) and fundraising or membership activities (grants, donations, fees).
Option 2: Fiduciary. This term refers to duties and responsibilities in managing someone else’s assets or funds, not to the source categories of income itself. It describes a role or obligation, not a type of income.
Option 3: Grants. While government grants are mentioned, grouping all these items under Grants would be inaccurate because grants are just one specific source of income. The broader category that encompasses grants, memberships, donations, and sales is revenue, not grants alone.
Option 4: Profit. Profit is typically defined as revenue minus expenses. The items listed are sources of revenue, not the net outcome after costs. Therefore it’s not correct to call the entire set ‘Profit’ on its own.
In summary, the described inflows collectively constitute revenue for the organization, while the other terms refer to roles, a single funding source, or the net result after costs.

VPAB13H3 F LEC01 Final Exam Quiz

Government grants, membership fees, donations, sales from a gallery shop could all be categorized as:

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