From the information below; sources of income for a Not-for-profit-making organization include?

By: |Published on: Nov 30|Categories: Accounting JAMB| 0 comments

I. Members subscription
II. Fines from members
III. Donation
IV. Loan from bank

 

A. I, III, IV
B. I, II, III
C. I,II, IV
D. I and IV

Correct Answer:

Option B – I, II, III

Explanation

Nonprofits can and do use the following sources of income to help them fulfill their missions:

  • Fees for goods and/or services.
  • Individual donations and major gifts.
  • Bequests.
  • Corporate contributions.
  • Foundation grants.
  • Government grants and contracts.
  • Interest from investments.
  • Loans/program-related investments (PRIs)

Users Also Read These:

SEE ALSO  A part of public company's profits belonging to the shareholders is?

Copyright warnings! Do not copy.