Which of the following statement about not-for-profit organizations (NFPs) is correct?

1. Profits made by an NFP entity can be distributed to its members after providing services to the community.
2. Companies limited by guarantee are the most popular legal structure for NFPs.
3. NFPs increasingly rely on funding/grants from governments.
4. NFPs with annual revenue of $1 million or more are required to have their financial reports audited by the Australian Charities and Not-for-profits Commission (ACNC).

a.IV only.

b.III and IV only.

c.I, II, III and IV.

d.I, III and IV only.

Clear my choice