Question
Which of the following statements does NOT apply to not-for-profit corporations? The corporation needs profits to sustain operations. The corporation must file an annual report
Which of the following statements does NOT apply to not-for-profit corporations?
The corporation needs profits to sustain operations. The corporation must file an annual report with the Internal Revenue Service. The corporation must meet the tax definition of a charitable organization as defined by the Internal Revenue Service. The residual earnings of the corporation belong to the owners. The corporation is generally exempt from income and property taxes.
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Chemical Principles
Authors: Steven S. Zumdahl, Donald J. DeCoste
7th edition
9781133109235, 1111580650, 978-1111580650
