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Question
State whether the following statement is True or False.
‘Not for Profit’ concerns concentrate their efforts on maximizing their profit.
Options
True
False
Solution
False
Explanation: Unlike profit-making organisations, NPOs do not have profit-making as their primary motive. In fact, they are formed to render services to their members or to society at large. For example, aided schools, clubs, hospitals etc. The primary motive of all these organisations is to provide service to others.
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 do not have profit motive.
Select the most appropriate alternative from given below and rewrite the statement:
___________ is a major source of revenue income for ‘not for profit’ concern.
