The two ways that a corporation can be classified by purpose are
A) general and limited.
B) profit and not-for-profit.
C) state and federal.
D) publicly held and privately held.

Question

Quizplus · Accepted Answer

The two ways that a corporation can be classified by purpose are profit and not-for-profit. Profit corporations are organized with the goal of making money for their shareholders, while not-for-profit corporations are organized to serve a specific social, educational, charitable, or other public service mission without the goal of making a profit.

The Two Ways That a Corporation Can Be Classified by Purpose