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.

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