Which of the following is/are not true regarding the operations of a charitable organization?
A)might prepare financial statements that compare inflows (for example, contributions) with outflows
B)there would be no calculation of net income
C)purpose is to provide services to its constituents
D)purpose is to seek profits.
E)all of the above

Question

Quizplus · Accepted Answer

Charitable organizations' purpose is primarily to provide services to their constituents, not to seek profits. Option A is true as charities would prepare statements comparing inflows with outflows to measure their financial performance, and option B is false as charities do calculate net income.

Which of the Following Is/are Not True Regarding the Operations