Accounting JAMB

Which of the characteristics above distinguishes a profit-making from a not-for-profit-making organizations?

(i) Orientation

(ii) Entity

(iii) Legal status

(iv) Finance.

A. i, ii, iii and iv
B. i, ii, and iii
C. ii, and iii
D. i and ii

Correct Answer:

Option C – ii, and iii

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