A corporation organized to provide a social, educational, religious, or other nonbusiness service is known as a(n)
A) authority.
B) merger.
C) quasi-government corporation.
D) S-corporation.
E) not-for-profit corporation.

Question

Quizplus · Accepted Answer

A not-for-profit corporation is organized to provide a social, educational, religious, or other nonbusiness service. Such corporations are exempt from income taxes and are typically operated for charitable, scientific, literary, or educational purposes.

A Corporation Organized to Provide a Social, Educational, Religious, or Other