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What Is a Non-Profit Business? - Definition & Example Business Plan

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which answer is NOT a main benefit of becoming a 501(c)3 nonprofit organization?

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1. What is one of the primary differences between for-profit and non-profit business?

2. On which financial statement are funds divided into 'unrestricted' and 'restricted' categories?

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About This Quiz & Worksheet

This quiz and worksheet will assess your knowledge of the features of non-profit organizations. Some of the information you'll be tested on in the quiz includes differences between for-profit and non-profit businesses and characteristics of a non-profit business plan.

Quiz & Worksheet Goals

Use these assessment tools to test your knowledge of:

  • Benefits of becoming a non-profit organization
  • Differences between for-profit and non-profit businesses
  • Financial information included in non-profit business plan
  • Purposes of a non-profit business plan

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related non-profit organization lesson
  • Critical thinking - apply relevant concepts to examine information about non-profit organizations in a different light
  • Distinguishing differences - compare and contrast topics from the lesson, such as non-profit businesses and for-profit businesses
  • Knowledge application - use your knowledge of non-profit organizations to answer questions about business planning

Additional Learning

To learn more about non-profit businesses, review the accompanying lesson titled What Is a Non-Profit Business? - Definition & Example Business Plan. The lesson covers the following objectives:

  • Define non-profit organization
  • Recognize the benefits of becoming a non-profit organization
  • Understand differences between for-profit businesses and non-profit businesses
  • Learn the three main sections of a non-profit business plan
  • Understand what information is included in each section of a non-profit business plan
  • Identify the steps that follow the development of a non-profit business plan
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