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Business, 22.06.2019 10:10 cookiee835

Which of the following statements about a not-for-profit firm’s ownership is most correct? a. not-for-profit firms are governed by a board of trustees whose members are elected by the community at large. b. the residual earnings (profits) of not-for-profit firms can be distributed to the firm’s top managers. c. not-for-profit firms are exempt from federal taxes, but they must pay state and local taxes, including property taxes. d. upon liquidation of a not-for-profit firm, the proceeds from the sale of its assets are distributed, on a pro rata basis, to the firm’s employees. e. none of above is correct

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Which of the following statements about a not-for-profit firm’s ownership is most correct? a. not-f...
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