Which Statement Is True Concerning Budgeting in Not-For-Profit Organizations

question 138

Multiple Choice

Which statement is true concerning budgeting in not-for-profit organizations?

• A)It is not necessary since the goal is not profit-oriented.
• B)It usually starts with budgeting receipts, following by expenditures.
• C)It is based on cash flows rather than revenues and expenses.
• D)The budget must be approved by the shareholders.

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Definitions:

NAACP

The National Association for the Advancement of Colored People, an organization formed in 1909 to fight for civil rights and eliminate race-based discrimination in the United States.

Higher Education

refers to the stage of learning that occurs at universities, colleges, and other institutions offering degrees and certifications beyond secondary education.

Elementary School

A primary educational institution where children receive the first stages of compulsory education, typically including grades K-5 or K-6.