Which of the following transactions is an exchange transaction?

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Multiple Choice

Which of the following transactions is an exchange transaction?

Explanation:
Exchange transactions involve a reciprocal value: the government provides a good or service and the recipient provides consideration in return. Fees charged for use of an athletic field at a city park fit this because a user pays to access the field and receives that service in return. The other items are nonexchange revenues: property taxes are imposed without a direct, specific service received in return; donations are voluntary transfers with no reciprocal service; operating grants are transfers to support programs without a direct service exchanged. So the described transaction is an exchange transaction.

Exchange transactions involve a reciprocal value: the government provides a good or service and the recipient provides consideration in return. Fees charged for use of an athletic field at a city park fit this because a user pays to access the field and receives that service in return. The other items are nonexchange revenues: property taxes are imposed without a direct, specific service received in return; donations are voluntary transfers with no reciprocal service; operating grants are transfers to support programs without a direct service exchanged. So the described transaction is an exchange transaction.

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