In forming a ____, the entrepreneur gives up proprietary interest in the organization and dedicates all the assets and resources of the corporation to tax-exempt activities.
A)sole proprietorship
B)LLC
C)C-corporation
D)S-corporation
E)nonprofit corporation

Question

Quizplus · Accepted Answer

In forming a nonprofit corporation, the entrepreneur gives up proprietary interest in the organization, dedicating all assets and resources to tax-exempt activities, distinguishing it from other business structures like sole proprietorships, LLCs, C-corporations, and S-corporations, which are typically formed to generate profit for their owners or shareholders.

In Forming a ____, the Entrepreneur Gives Up Proprietary Interest