Define 501(c)(3) corporation

A corporation is created by the state issuing a(n) after approving the corporation's articles of incorpo Multiple Choice . business plan oral agreement receipt

State two desired characteristics of the Board of Directors of an effective corporation.

Explain  the impact of a tax-exempt status in the case of not-for-profit organisation.

3) A nongovernmental, not-for-profit entity is subject to: GASB FASB A) I only B) II only C) a combination of I and II depending on the entity's purpose D) neither I or II

Which of the following is needed for a fiduciary relationship to exist?   Multiple Choice   The assets are controlled by outside entities. The assets are derived from the reporting entity’s own revenues, which are used to benefit others. The assets are for the benefit of individuals and/or entities that are not part of the reporting entity.   The assets are derived from a pass-through grant for which the reporting entity has administrative responsibility.

Q: What are the 3 major financial statements required for all for-profit entities?  Contrast those with the financial statements required for not-for-profit entities.

Which one of the following can issue the corporate bond O a. Individuals O b. Central Government c.Public Limited companies d.State Government

Distinguish between not-for-profit and for-profit corporations.