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प्रश्न
Indian Cricket Association prepares Profit and Loss Account ?
उत्तर
False
Explanation:
Indian Cricket Association is a not-for-profit concern. So, it does not prepare Profit and Loss Account; instead it prepares Income and Expenditure Account.
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Not for Profit Concerns
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संबंधित प्रश्न
Give word / term or phrase for the following statement.
Excess of income over expenditure of a ‘not for profit’ concern.
Excess of expenditure over income of 'not for profit' concerns.
The main objective of not for profit organizations is to earn profit.
Write one Word / Term / Phrase for the following statement.
Such concerns, which are formed for rendering some useful services to its members without having profit motive.
