Meaning of Not-For-Profit Organisation: B-Com Class
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Questions and Answers

What is the main difference between a Not-for-Profit Organisation and a business entity?

  • Not-for-Profit Organisation aims to provide services, while a business operates for donations
  • Not-for-Profit Organisation aims to gain ownership, while a business operates for profit
  • Not-for-Profit Organisation aims to maximize profit, while a business operates for the benefit of society
  • Not-for-Profit Organisation aims to benefit society, while a business operates for the benefit of owners (correct)

    • Which of the following is NOT an objective of a Not-for-Profit Organisation?

  • Generating profits for shareholders (correct)
  • Promoting educational initiatives
  • Providing public health services
  • Advancing cultural activities

    • How are funds typically sourced by a Not-for-Profit Organisation?

  • By issuing stocks
  • From members, trustees, etc., through donations and membership fees (correct)
  • Through sales revenue
  • From government grants

    • Which of the following is NOT a common type of Not-for-Profit Organisation?

    <p>Hotel</p> Signup and view all the answers

    What are some common sources of funds for a Not-for-Profit Organisation?

    <p>Receiving grants from the government</p> Signup and view all the answers

    Which term refers to the money received by a Not-for-Profit Organisation for its activities?

    <p>Donations</p> Signup and view all the answers

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