Question

Differentiate between commercial entries and Nonprofit entries?​

Answer 1

your answer is here i hope it helps you plz mark as brilliant.

Answer 2

The difference between commercial entries and non-profit entries are given as follows:

1. Main motive: For a commercial entry,it is profit making whereas for a non-profit entry,it is fulfilling the needs of the society.

2. Production of statements: The commercial entries need to report, produce balance statement and income statement, whereas non- profit entries do not need to produce any such statements.

3. Tax exemption: In case of commercial entries, tax payment is important but for non-profit entries, taxes are often waived off.

4. Budget formation: It also differs in both the cases as their basic goal is different.

5. Ownership: The commercial entries have to produce all reports since they have an owner which is absent in case of non-profit entries.