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Questions and Answers
What is the main difference between profit making organizations and not for profit organizations?
What is the main difference between profit making organizations and not for profit organizations?
- Profit making organizations and not for profit organizations have the same objective
- Profit making organizations focus on maximizing shareholder value while not for profit organizations focus on social responsibility
- Profit making organizations focus on providing service while not for profit organizations focus on earning profit
- Profit making organizations focus on earning profit while not for profit organizations focus on providing service (correct)
How is the success of a for profit organization measured?
How is the success of a for profit organization measured?
- By how well the services are rendered
- By how much service the organization provided
- By how much it contributes to the public wellbeing
- By the amount of profit the organization earns (correct)
How is the success of a not for profit organization measured?
How is the success of a not for profit organization measured?
- By the amount of profit the organization earns
- By how much service the organization provided and by how well these services are rendered (correct)
- By how well the employees are paid
- By how much it contributes to the public wellbeing
What is the purpose of budgeting in business organizations?
What is the purpose of budgeting in business organizations?
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What is a budget?
What is a budget?
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