Question 3-6 a,b,c

3-6. a. Distinguish between (1) exchange and (2) nonexchange transactions. r-end: b. Identify and describe the four eligibility requirements for a government to recognize revenue in a nonexchange transaction. e used c. GASB classifies nonexchange transactions into four categories. List the four categories, give an example of each, and outline asset and revenue recognition criteria for each