Accountancy, asked by ganpatkothiya39, 3 months ago

Which of the following is not a feature of not-for-profit organisation?

(a) It is a separate legal entity.

(b) It is owned by an individual or group of individuals.

(c) It prepares its financial statements every year.

(d) It does not have a profit motive.​

Answers

Answered by shivsagarbalajichopd
2

Answer:

I think (a) is the answer

Answered by krishna210398
0

Answer:

The correct option is B i.e.,  It is owned by an individual or group of individuals.

Explanation:

Not-For-Profit Organization is the organization which did not do its work to make profit instead of its main objective and work to achieve a specific goal for the welfare of the society or its members . It is also known as non-profit organizations.

The type of organization primarily runs its operations on donations, admission fees, membership fees or membership fees.

Characteristics of not for profit organisation:

1. Not-for-profit organisation is a separate legal entity promoted by individual or enterprises.

2. Their purpose is to further cultural, educational, religious, professional objective and rendering service to people at large.

3. It is set-up as a charitable society or trust.

4. Not-for -profit organisation does not function with the objective of earning profit.

5. Not-for-profit organisatio is managed by a group of individual often called Trustee or Managing Committee.

So, Not-for-profit organisation is managed by group not owned by an individual or group of individual.

#SPJ3

Similar questions