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Home Questions FY872T4EC2
Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Assertion: The main objective of the non-profit organization is to serve society at free of cost or a nominal cost.
Reasoning: It is managed by the managing committee who is elected by its members which works under the overall supervision of Central Government.

Options:

Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A.

Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A.

Assertion (A) is true but Reasoning (R) is not correct.

Assertion (A) is not true but Reasoning (R) is correct.

Correct Answer:

Assertion (A) is true but Reasoning (R) is not correct.

Explanation:

Their affairs are usually managed by a managing/executive committee elected by its members. Central Government has no role in supervision of NPOs.

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