The status of _______________ organizations are held in trust, rather than owned; there are many hospitals that will fit into this tax status.
A) for-profit
B) not-for-profit
C) All of these are correct.
D) None of these are correct.

Question

Quizplus · Accepted Answer

Not-for-profit organizations, including many hospitals, operate on a model where their assets and earnings are held in trust for the community or specific purposes rather than being owned by private individuals or shareholders. This status allows them to enjoy certain tax exemptions and reflects their primary mission to serve the public interest rather than to generate profit for owners or investors.

The Status of _______________ Organizations Are Held in Trust, Rather