9 ICSE commercial studies chapter 3 profit non profit organization
Автор: Sarvadnya Education hub
Загружено: 2025-12-14
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#ICSEClass9 #CommercialStudies #ProfitOrganization #NonProfitOrganization #NPO #CommercialActivities #SocialWelfare #BusinessStudies #Profit #economicsICSECommerce This chapter (ICSE Class 9 Commercial Studies, Chapter 3) defines and distinguishes between two fundamental types of organizations:
Profit Organizations (Commercial): Primary objective is earning profit (excess of revenue over expenditure) and maximizing owners' wealth. They prepare a Profit & Loss Account. Examples: Private and Public Companies, Sole Proprietorships.
Non-Profit Organizations (NPOs): Primary objective is social welfare and service (e.g., charity, education, health), not profit distribution. They use any excess of income to further their mission (called Surplus) and prepare an Income & Expenditure Account. Examples: Trusts, Societies, Clubs, Charitable Hospitals.
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