A nongovernmental organization that serves its customers but does not have profit as an organizational goal is referred to as a
A)business firm.
B)nonprofit organization.
C)subchapter S corporation.
D)cooperative.
E)social service agency.

Question

Quizplus · Accepted Answer

A nonprofit organization is defined by its lack of a profit motive and its goal of serving the public or a specific group of individuals. Unlike for-profit businesses, nonprofits do not distribute profits to owners or shareholders, but instead reinvest any excess revenue into the organization's mission. Examples of nonprofits include charities, educational institutions, and religious organizations.

A Nongovernmental Organization That Serves Its Customers but Does Not