Multiple Choice
Which of the following is a characteristic of a nonprofit corporation?
A) The trustees have unlimited liability status.
B) It enjoys tax-exempt status.
C) It is formed to provide a professional service.
D) It is owned by and operated for the benefit of patrons using its services.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: A _ provides the protection of limited
Q13: Which of the following is a characteristic
Q14: The main disadvantage of a corporation is
Q15: Once the choice of a legal form
Q16: Proprietorship is the oldest and most prevalent
Q18: Equal partnership is advisable in order to
Q19: _ is defined as a percentage share
Q20: Which of the following factors should be
Q21: Compare a partnership with a proprietorship.
Q22: Describe the people who govern a corporation.