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swat32
3 years ago
5

Since neither governments nor not-for-profit entities have investors, the financial reporting objectives are the same for both t

ypes of entities.
A. True
B. False
Social Studies
1 answer:
Salsk061 [2.6K]3 years ago
4 0

Answer:

False.

Explanation:

As per the question, the given assertion would be considered false as even if the goals of not-for-profit organizations and the governments are similar and that is 'public welfare' and their upliftment. But the financial reporting objectives of both vary from each other as governmental entities report or detail in accordance with the laws and regulations that affect the financial reports while the NPOs do not have as such laws or rules to be followed. Therefore, the assertion is <u>false.</u>

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This economy system is also called a free market or capitalism that is driven by supply and demand.

The businesses and consumers are the component that control the marketplace with little to no interference from the government.

Therefore, It is a true statement that the free enterprise system is necessary for an individual to make an impact on the business world because it gives them freedom to perform their trade art.

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Answer:

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Explanation:

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