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Question
State whether the following statement is True or False.
‘Not for Profit’ concerns do not have profit motive.
Options
True
False
Solution
True
Explanation: Certain organisations are formed not to earn profits but to render services to members or to society at large. For example, aided schools, clubs, hospitals etc. The primary motive of all these organisations is to provide service.
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RELATED QUESTIONS
Write the word/phrase/term, which can substitute the following sentence.
The excess of total assets over total liabilities of a ‘Not for Profit’ Concern.
The excess of total assets over total liabilities.
State whether the following statement is True or False.
‘Not for Profit’ concerns concentrate their efforts on maximizing their profit.
Select the most appropriate alternative from given below and rewrite the statement:
___________ is a major source of revenue income for ‘not for profit’ concern.
