BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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TRUE
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FALSE
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Detailed explanation-1: -A for-profit organization is one that operates with the goal of making money. Most businesses are for-profits that serve their customers by selling a product or service. The business owner earns an income from the profit and may also pay shareholders and investors from the profits.
Detailed explanation-2: -A not-for-profit organisation is a business that aims to do something other than to make profit for the owners, such as providing a public service or helping people. It needs to make enough money to cover its costs, but any surplus is reinvested into the business or used in other ways.
Detailed explanation-3: -A not-for-profit organization, also known as a nonprofit, is an organization or company that uses its earnings to invest in itself for its cause or employees. There are many types of nonprofit organizations, each distinguished based on elements like membership, structure and mission.
Detailed explanation-4: -The Main Aim of a Not-for-Profit Organization is : To provide Service to the Society at a Concessional Rate Minimum Price or at Times Even Free of Cost . To Carry out Operations without Expectations of Earning Profit .