Which of the Following Is Not True

question 26

Multiple Choice

Which of the following is not true?

• A)A not-for-profit entity operates for purposes other than to provide goods or services at a profit.
• B)A not-for-profit entity may be governmental or non-governmental.
• C)A not-for-profit entity may possess ownership interests like a corporation.
• D)A not-for-profit entity receives resources from resource providers who do not expect commensurate or proportionate pecuniary return.

Distinguish between the focuses of financial and managerial accounting in terms of organizational level.

Recognize the significance of control in the managerial process and its relationship to goal setting.

Identify the goals of lean business models, including waste elimination and customer satisfaction.

Understand the importance of providing both financial and nonfinancial information in managerial accounting for internal decision-making.