One Difference Between a For-Profit and a Not-For-Profit Organization Is

question 12

Multiple Choice

One difference between a for-profit and a not-for-profit organization is

• A) a for-profit organization will budget for a profit each year and a not-for-profit will budget to break-even.
• B) a for-profit organization will prepare an income statement and balance sheet each year, a not-for-profit will not prepare these statements.
• C) a for-profit organization is not operated for anyone's personal gain, a not-for- profit operation is expected to provide a return for its investors.
• D) excess revenue over expenses, in a for-profit organization can go to the organization's owners, in a not-for-profit organization this excess goes back into the organization.

---

Definitions:

Court of International Trade

The Court of International Trade is a federal court in the United States that deals with cases involving international trade and customs laws.

Worldwide Jurisdiction

The assertion of legal authority to prosecute or impose legal judgments regardless of geographical boundaries.

International Trade

The exchange of goods and services between countries, vital for the global economy, driven by comparative advantage, and subject to regulations and tariffs.

Customs Issues

Problems or disputes that arise in the process of importing or exporting goods, often related to the payment of tariffs, adherence to regulations, or the classification of goods.