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प्रश्न
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.
उत्तर
‘Not for Profit’ concern
Explanation: Certain organisations are formed not to earn profits but to render services to their members or to the society at large. For example, aided schools, clubs, hospitals, societies etc. The primary motive of such organisations is to provide a service. In such organisations, Income and Expenditure Account and Balance Sheet are prepared at year end to know the surplus/deficit and the financial position.
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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.
