Nonprofit Organizations Are Similar to Businesses in That They Often

question 54

True/False

Nonprofit organizations are similar to businesses in that they often provide goods and services that satisfy the needs of society.
Businesses are not the only organizations that produce goods and services.Government agencies,public schools,and charities such as the Salvation Army provide goods or services,but are classified as nonprofit organizations since there is no profit motive.

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Definitions:

Legislative Requirements

Obligations or conditions laid down by law that must be complied with by individuals or organizations.

Securities Legislation

Laws and regulations governing the issuance, trading, and sale of securities to protect investors and ensure fair markets.

Common Method

A widely used or accepted technique or procedure for achieving a task or solving a problem.

Common Shares

Shares to which no preferential rights or privileges are attached.