Question: 1. Two qualified MBA pass outs set up a consultancy firm for equal share. They charge consultancy fee from each patient @ 500 per

1. Two qualified MBA pass outs set up a consultancy firm for equal share. They charge consultancy fee from each patient @ ₹ 500 per hour. At the same time, they give free consultation to persons who cannot pay their fees. Can this set-up be termed as not-for-profit organization? Why?

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