What are the objects of Not-for-profit Organisations or Non-profit seeking Organisations ?
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The Not-for-Profit Organisations raise funds from its members as well as from the general public for meeting their objectives. The main motive of these organisations is to provide service. However, they may earn profits in the due course
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The main motive of these organisations is to provide service. However, they may earn profits in the due course. Generally, these organisations do not manufacture, purchase or sell goods or provide services. Thus, they do not need to prepare Trading and Profit and Loss A/c.
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