A corporation cannot be formed without a profit-making purpose.

Name: A corporation cannot be formed without a profit-making purpose.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A corporation can be formed for both profit and non-profit purposes. Non-profit corporations are formed for charitable, educational, or religious purposes, and their earnings are used to support their respective causes rather than being distributed to shareholders.

A Corporation Cannot Be Formed Without a Profit-Making Purpose