Private corporations can be classified as either for profit or not-for-profit corporations.

Question

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Private corporations can be categorized as either for-profit or not-for-profit, depending on their objective or purpose. For-profit corporations exist to generate profits or financial returns for their owners or shareholders, while not-for-profit corporations focus on serving a particular mission or cause and reinvesting their earnings into achieving that mission rather than distributing them to stakeholders.

Private Corporations Can Be Classified as Either for Profit or Not-For-Profit