Government Organizations

Exempt Status
Exempt status refers to a special designation that frees certain organizations, such as churches, government organizations, and community chests, from paying taxes. However, these organizations must submit an application for exempt status and file information returns even when no tax is due.
Quango
An overview of the quasi-autonomous non-governmental organization, often abbreviated as QUANGO, including its function, structure, and relevance in public administration. While not government entities, these organizations operate under government oversight to fulfill specific public duties.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.