Identify the difference between the characteristics of not-for profit and for-profit organizations.

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Answer 1

Question

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

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Brier Company produces car covers. The company's master budget shows the following standards information. Expected production for September Direct materials Direct labor Variable manufacturing overhead Required: 5,000 units 8 yards per unit at $5 per yard 3 hours per unit at $16 per hour 3 direct labor hours per unit at $2 per hour Calculate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead.

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Answer 2

Question

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

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Answer 3

Question

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

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Answer 4

Question

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

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Answer 5

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

Answer 6

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

Answer 7

Chapter 13, Problem 1Q

To determine

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Answer 8

Expert Solution & Answer

Explanation of Solution

Not-for Profit Organization: A not for profit organization, is a business type operated by individuals or specific groups of people to carry out the beneficial activities to the society. They do not focus on profit generation.

The difference between the characteristics of not-for profit and for-profit organizations are:

The ownership is not properly defined.
The focus is on provision of goods and not on profit.
The resources provided may not get the direct benefit worth the value of the resources.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 13 - Prob. 1Q Ch. 13 - Prob. 2Q Ch. 13 - Prob. 3Q Ch. 13 - Prob. 4Q Ch. 13 - Prob. 5Q Ch. 13 - Prob. 6Q Ch. 13 - Prob. 7Q Ch. 13 - Prob. 8Q Ch. 13 - Prob. 9Q Ch. 13 - Prob. 10Q

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Identify the difference between the characteristics of not-for profit and for-profit organizations.

Explanation of Solution

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Chapter 13 Solutions