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7. The incorrect statement includes: A. Foundations and endowments are similar in that both operate to support charitable/non-profit activities. B. Generally speaking, pension funds can

7. The incorrect statement includes: A. Foundations and endowments are similar in that both operate to support charitable/non-profit activities. B. Generally speaking, pension funds can take at most average risk. C. Foundations have minimum spending requirements to maintain their tax-example status. D. Foundations are subject to ERISA and endowments are subjective to UMIFA

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