The Main Objective of a Not-For-Profit Business Is to Make

question 32

True/False

The main objective of a not-for-profit business is to make a profit.

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Definitions:

NSF Check

A check that has been returned by a bank because it cannot be cashed due to insufficient funds in the account it was drawn against.

Cash Account

A financial account where cash transactions are recorded, showing the cash inflows and outflows for a person or business.

Bank Reconciliation

The method of aligning the balance in a company's financial records for a cash account with the relevant details on a bank statement.