Commonly, a nonprofit corporation's powers will be limited pursuant to which of the following? Multiple Choice The majority vote of its common shareholders A statement of existence in its articles of organization The majority vote of its preferred shareholders A purpose clause in its articles of incorporation Which of the following is incorrect regarding lawsuits and limited liability partnerships? Multiple Choice Only the LLP is liable on a contractual obligation. The LLP and the partner who committed the tort are liable. Only the LLP may be sued for a contractual obligation. Even LLP members who had no role in the commission of a tort have liability. Which of the following is incorrect regarding for-profit corporations? Multiple Choice They do not issue stock to their shareholders. The profit they generate may lake the form of dividends paid by the corporation. Most business are for-profit corporations. The profit they generate may take the form of increased market value of their shares