Which of the following is true of nonprofit corporations?
A) They include hospitals, educational institutions, and charities, but exclude religious groups.
B) They are always privately held corporations that are created for charitable and benevolent purposes.
C) They are used by groups to carry out transactions and own property without individuals being held liable.
D) In legal papers, they are referred to as Subchapter S corporations.
C
You might also like to view...
Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores. Who is the ultimate consumer for this magazine?
A. the salesperson for Time Inc. who sold the magazine to Walmart B. the person who browses the magazine in the store but does not buy it C. the person who stocks the magazine rack at Walmart D. the person who buys the magazine to read at home E. All people, from the writer, to the seller, to the reader at home, are the ultimate consumers.
Cash dividends paid on common stock would be reported in the statement of cash flows in:
A) the cash flows from financing activities section. B) the cash flows from investing activities section. C) a separate schedule. D) the cash flows from operating activities section.
A spouse cannot have an unregistered interest in land
Indicate whether the statement is true or false
A __________ reverses the jury verdict on the ground that the evidence of the prevailing party was so weak that no reasonable jury could have resolved the dispute in that party's favor
a. directed verdict b. summary judgment c. judgment n.o.v. d. judgment on the pleadings