Which of the following statement about not-for-profit organizations (NFPs) is correct? I. Profits made by an NFP entity can be distributed to its members after providing services to the community. II. Unincorporated association is the most popular legal structure for NFPs. III. NFPs increasingly rely on earned income (fees/sales). IV. NFPs with annual revenue of $1 million or more are required to have their financial reports audited by the Australian Charities and Notfor-profits Commission (ACNC). a. II, III and IV only. b. III and IV only. c. II and IV only. d. I, II, III and IV