Question :
Which of the following is not a feature of a not-for profit organisation?
Option 1:
Service motive
Option 2:
Separate entity
Option 3:
Unlimited liability
Option 4:
Managed by elected members
Correct Answer:
Solution : Following are the features of a not-for-profit organisation: 1. Service motive, 2. Separate entity, and 3. Managed by elected members. Hence, the correct option is 3.
General donations are treated as:
Receipts and Payments Account does not include
An account akin to Profit and Loss Account in
Any amount received as per the will of a
A credit balance of Income and Expenditure for
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