6 Questions
What is the main difference between a Not-for-Profit Organisation and a business entity?
Not-for-Profit Organisation aims to benefit society, while a business operates for the benefit of owners
Which of the following is NOT an objective of a Not-for-Profit Organisation?
Generating profits for shareholders
How are funds typically sourced by a Not-for-Profit Organisation?
From members, trustees, etc., through donations and membership fees
Which of the following is NOT a common type of Not-for-Profit Organisation?
Hotel
What are some common sources of funds for a Not-for-Profit Organisation?
Receiving grants from the government
Which term refers to the money received by a Not-for-Profit Organisation for its activities?
Donations
Learn about the meaning and concept of not-for-profit organisations in the context of accounting. Understand the differences between not-for-profit and business entities in terms of objectives and operations.
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