A not-for-profit organization provides language training and homework assistance to immigrants. Most of the services are provided by volunteers and all the funds come from public donations. The primary objective in preparing financial statements for this organization is ________.

Question

Quizplus · Accepted Answer

The primary objective in preparing financial statements for this organization is stewardship, as it is not-for-profit and its main focus is to provide language training and homework assistance to immigrants with the funds coming from public donations. This means that the financial statements will reflect how the organization has managed the resources entrusted to it by donors and demonstrate accountability for its actions.

A Not-For-Profit Organization Provides Language Training and Homework Assistance to Immigrants