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State the meaning of not for …

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State the meaning of not for profit organisation

Posted by Shivam Pandey 5 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Sonu Chand 5 years, 5 months ago

Not-for-profit organizations are types of organizations that do not earn profits for its owners. ... In a nonprofit organization, income is not distributed to the group's members, directors, or officers. There are also nonprofit corporations known as non-stock corporations.

Gaurav Seth 5 years, 5 months ago

Not-for-Profit Organisations (NPO) are set up with the prime objective of providing services and not to earn profit thereby enhancing the welfare of society. Such organisations include schools, hospitals, trade unions, religious organisations, etc. The person/s or the groups of individuals who govern and manage the working of an NPO are known as trustees. NPO's main sources of income are donations, subscriptions, life membership fees, grants etc. As these organisations are not set up with profit motive, they do not prepare Trading and Profit and Loss Account. Instead, they maintain Receipt and Payments Account, Income and Expenditure Account and Balance Sheet.

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Palak Sharma 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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