Question: 1. Explain the major difference between a business and a non-profit organization. Regarding finance and accounting, what similarities are there between a business and non-profit?

1. Explain the major difference between a business and a non-profit organization. Regarding finance and accounting, what similarities are there between a business and non-profit? 2. Why is understanding financial reports important for Goodwill? What types of decisions can they make only after reviewing financial transactions? Explain your answer. Students are expected to give a complete and thorough answer with references to the terms and concepts from the chapter

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