A corporation established for charitable, public (scientific, literary, or educational), or religious purposes or for mutual benefit (trade associations, tennis clubs), as recognized by federal and state laws, is a ____.
A)nonprofit corporation
B)joint venture
C)syndicate operation
D)limited partnership
E)sole proprietorship

Question

A corporation established for charitable, public (scientific, literary, or educational), or religious purposes or for mutual benefit (trade associations, tennis clubs), as recognized by federal and state laws, is a ____. ​
A)nonprofit corporation
B)joint venture
C)syndicate operation
D)limited partnership
E)sole proprietorship

Quizplus · Accepted Answer

A nonprofit corporation is specifically designed for organizations whose purposes are charitable, public (such as scientific, literary, or educational), religious, or for mutual benefit (like trade associations and clubs), and they are recognized as such by federal and state laws.

A Corporation Established for Charitable, Public (Scientific, Literary, or Educational)