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Revision Notes

Profit and Non-Profit Organisations

ICSE · Class 9 · Commercial Studies

Quick revision notes for Profit and Non-Profit Organisations — ICSE Class 9 Commercial Studies. Key concepts, formulas, and definitions for last-minute revision.

59 questions34 flashcards5 concepts

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Key Topics to Revise

1

1. Meaning of Profit Seeking Organisations

  • Profit seeking organisations are established and operated primarily with the motive of earning profits.
  • They are basically business organisations.
  • A business organisation cannot survive for long without earning some profit.
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2. Meaning of Non-Profit Organisations

  • Non-profit organisations are set up and run not to earn profits but to serve society.
  • If any surplus is earned, it is ploughed back into the organisation to support its mission.
  • Non-profit organisations are organised as societies, trusts, and non-profit companies.
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3. Types of Non-Profit Organisations

  • Charitable organisations provide financial assistance and other support for social causes.
  • Ratan Tata Trust provides scholarships for higher education to young persons, mainly from poor families.
  • Educational organisations are set up for human resource development and learning.
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4. Difference Between Profit and Non-Profit Organisations

  • The primary motive of profit organisations is to earn profits.
  • The primary motive of non-profit organisations is to render services.
  • The main functions of profit organisations are production and distribution.

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Full Notes

Key Concepts

These are organisations established and operatedThe main aim of a profitThese are organisations set upThese organisations provide financial helpThese organisations support learning and human

Frequently Asked Questions

What are the important topics in Profit and Non-Profit Organisations for ICSE Class 9 Commercial Studies?
Profit and Non-Profit Organisations covers several key topics that are frequently asked in ICSE Class 9 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Profit and Non-Profit Organisations — ICSE Class 9 Commercial Studies?
Understand the core concepts first, then work through the 59 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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