Question

Accounting is needed for ___ organizations as well as for-profit seeking firms.

a) Non-profit
b) Government
c) Educational
d) Charity

Answer 1

Non-profit organizations are business entities that are not focused on making a profit. They are set up for charitable, religious, or educational purposes and include organizations such as welfare groups, churches, hospitals, schools, museums, civic organizations, veterans organizations, and social clubs.

Step-by-step explanation:

A Non-Profit Organization is a business entity whose primary mission is not making a profit. Instead, non-profit organizations are generally set up for providing charitable, religious, or educational purposes. Examples of non-profit organizations include welfare groups, churches, hospitals, schools, museums, civic organizations, veterans organizations, and social clubs.