The differences between For-profit and non-profit organization

What is the primary goal of a for-profit organization?

• Maximizing profit

• Providing public services

• Promoting social welfare

• Engaging in charitable activities

Which of the following is true about For-profit organization?

• They are exempt from paying taxes.

• They distribute profits to shareholders or owners.

• They rely on donations and grants for funding.

• They operate solely for the general public.

Non-profit organizations:

• Operate with the primary goal of generating profit.

• Pay taxes on their income.

• Distribute profits to shareholders or owners.

• Reinvest surplus funds back into the organization's mission.

Which of the following is an example of a For-profit organization?

• Red cross

• Google

• United nations

• Doctors without borders

Which of the following is the characteristics of a for-profit organizations?

• Publicly available financial statements

• Voluntary board of directors

• Donations and grants as primary sources of funding

• Tax-exempt status

Who is typically responsible for budgeting and financial planning within an organization?

• Human resources manager

• Operations manager

• Treasure

• Controller

Which of the following roles involves monitoring financial performance and making recommendations for improvement?

• Financial analyst

• Chief Operating Officer

• Chief Information Officer

• Marketing manager

The role of a controller includes :

• Managing the organization's financial transactions

• Developing and implementing marketing strategies

• Designing the organization's products or services

• Overseeing the organization's IT infrastructure

Who is responsible for ensuring accurate and timely financial reporting?

• Chief Compliance Officer

• Chief Technology Officer

• Chief Legal Officer

• Chief Financial Officer

Which of the following sectors are commonly associated with non-profit organizations?

• Healthcare

• Technology

• Banking

• Manufacturing