Which of the Following Is Normally More Important for a Not-For-Profit

question 27

Multiple Choice

Which of the following is normally more important for a not-for-profit organization compared to a profit-oriented organization?

• A)Long-range goals
• B)Earning an adequate level of income each accounting period
• C)Long-range budgetary planning and controlling system
• D)Short-range budgetary planning and controlling system

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Definitions:

Substitutes

Products or services that can replace or act as alternatives to another, affecting consumer choices and market dynamics.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded; also known as the market-clearing price.

Electric Autos

Vehicles powered by electric motors using energy typically stored in rechargeable batteries, offering an alternative to conventional internal combustion engine automobiles.

Learning by Doing

A theory suggesting that productivity can increase over time as individuals or organizations gain experience and efficiency in a process through repetition.