1. What is a difference between quasi-public corporations and nonprofit corporations?

Multiple Choice

Quasi-public corporations are not owned by a government entity, while nonprofit corporations are owned and operated by the federal, state, or local government.

Quasi-public corporations are owned and operated by the federal, state, or local government, while nonprofit corporations are not owned by a government entity.

Quasi-public corporations are funded by donations from individuals and companies, while nonprofit corporations are funded by the government.

Most quasi-public corporations are organized as 501(c)(3) organizations, while nonprofit corporations are not.

Quasi-public corporations focus on earning a profit, while nonprofit corporations focus on providing a service.

2. The general partners in a limited partnership

Multiple Choice

have limited liability for the debts of the business.

invest money in the business but do not participate in its management.

do not accept the risk of loss associated with the business.

are partners in name only; they do not make decisions or assume any risk.

receive a larger share of profits after the limited partners have received their initial investment back.