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Question
Answer in one sentence only.
What do you mean by ‘Not for Profit’ Concern?
One Line Answer
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Solution
A concern or organisation formed and established to serve its members, society, or the general public by undertaking various activities without any profit motive is called a ‘Not for Profit’ concern.
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Chapter 2: Accounts of ‘Not for Profit’ Concerns - Exercise 2.1 (Objective Type Questions) [Page 113]
