If a nonprofit corporation meets the Internal Revenue Service (IRS) test for tax-exempt status, it is not allowed to make profits.
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Q12: Common stockholders are entitled to vote at
Q13: In a(n) _, all partners assume unlimited
Q14: To operate as a sole proprietor requires
Q15: _ pay taxes on profits they earn,
Q16: As per the doctrine of _, if
Q18: In terms of its treatment of income,
Q19: In forming a(n) _, the entrepreneur gives
Q20: A high-growth venture cannot be started as
Q21: By creating a corporation and issuing stock,
Q22: Often small businesses such as restaurants, boutiques,
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