Question

Non-profit Association means an institution formed for making reasonable profit.

• A. True
• B. False

Answer 1

The correct option is A True

(i) Non-profit association is a voluntary association established for conducting social, cultural educational or economic activities.

(ii) Such associations work for the benefits of the members and for the society.

(iii) These associations are service-oriented, which promote welfare of the society.

(iv) Rotary clubs, social clubs, sports club, educational institutions, recreation clubs, cultural club, chamber of commerce, etc.