A Characteristic Common to Governmental and Not-For-Profit Organizations Is That

question 35

True/False

A characteristic common to governmental and not-for-profit organizations is that they do not exist to provide goods or services at a profit or profit equivalent.

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Definitions:

Freight Charge

The cost incurred for transporting goods between places, typically charged by carriers for shipments.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue; also known as net earnings or net profit.

Sales Discounts

Reductions in the price of a product or service offered to incentivize prompt payment by the customer.

Sales Returns

Transactions in which customers return previously purchased merchandise, leading to a refund.