Larry was asked by one of his clients how to define a nonprofit corporation.Larry was unsure,so he asks you for help.Which of the following best describes the essence of nonprofit corporations?
A) They are usually created for charitable,educational,scientific,or religious purposes.
B) They may not make a profit.
C) They may make a profit,but the profit cannot benefit any officer,director,or member.
D) A and B only
E) A and C only
Correct Answer:
Verified
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