Higher Business Management Practice Test 2026 – Complete Exam Prep

Charities are typically non-profit organizations run for public benefit, not to provide private gains. They are governed by a board of trustees or directors rather than being owned by a single person. Any surplus funds are reinvested to further the charitable purpose, not distributed to owners. Because of this structure, they aren’t owned by an individual, and they aren’t owned by the government or by a private company—the government may regulate or oversee them, but ownership rests with the organization’s governance, not with private owners.