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Yes. A"non-profit" corporation is one that does not have stockholders, so there can never be a distribution of net corporate profits to them. The corporation can earn all the money it can and keep the profits or use them for corporate work, expansion or charitable purposes. There may be limits on how much profit the corporation can accumulate.
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoYes.
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What is bank account interest?
interest charged to bank accounts
What is entry for interest credited into Bank account?
bank account debit and interest payable credit
Is the interest earn t in a bank account classed as an investment?
Interest earned in a bank account is not an investment. It is considered an income. The money that you have in the bank account that earned the interest for you is considered the investment
Can a corporation have an interest bearing checking account?
A corporation that is a for profit corporation cannot have an interest bearing checking account. However, it can have an earnings credit which is similar to an interest rate. With an earnings credit the interest earned on the Checking account is used to offset monthly fees/ charges on the account, if interested earned using the earnings credit is more than the total amount of fees/ charges it is considered a surplus and does not accrue to the checking account balance. A non profit corporation such as a 501.c.3 Can earn interest on Checking accounts due to the not for profit status.
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
Can a corporation operate without a bank account?
No definitely not.
Which bank in has the highest interest in checking and savings account?
Karnataka bank in india has highest interest in savings account. For the amount kept between 7 to 45days you get 4.5% as interest
What is a bank account you keep money in and get paid interest?
savings account
What is the standard interest rate on an interest bearing checking account at Chase bank?
The standard interest rate on an interest bearing checking account at a Chase bank is 0.01%. They have a variety of checking accounts with the same interest rate or less.
What is sent by the bank regularly?
If you have an account in the bank then you generally wil receive interest for any money you have that is in the account. That is what is sent from a bank regularly.
How you get interest rate?
First you need a bank account and money you put the money in the bank account, wait for a year or two and then you get more money in your bank account
What is the terminology of compounding interest?
The terminology of compounding interest means adding interest to the interest that one already has on an account. The interest could be added to a bank account or to a loan.
