State whether the following statements are True or False with reasons.

1.	State whether the following statements are True or False with reasons.Not for Profit concerns do not have a profit motive.
Answer» This statement is True. Not for profit concerns, the main aim is to give services to its members or to the society at large. They do not carry any Trading activity or Manufacturing activity so there is no question of having a profit motive for ‘Not for Profit’ concerns.

State whether the following statements are True or False with reasons.Not for Profit concerns do not have a profit motive.

Answer»

This statement is True.

Not for profit concerns, the main aim is to give services to its members or to the society at large. They do not carry any Trading activity or Manufacturing activity so there is no question of having a profit motive for ‘Not for Profit’ concerns.

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State whether the following statements are True or False with reasons.Not for Profit concerns do not have a profit motive.

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