Avoluntary association is typically a nonprofit organization formed to pursue some common interest. true. false.

The given statement is true.

Further Explanation:

Voluntary association:

A voluntary association is a group of people who engage in a common activity voluntarily for achieving a common goal. It is an unincorporated form of association. The most common example of voluntary association is a trade association, trade union, and professional unions. In some jurisdictions, there is no requirement of the formation, and the association can be established without any legal procedure. In some jurisdictions, the minimum number of individuals is required for the formation of the association. The voluntary association is established to fulfill a specific motive. It is not established to make a profit.

Comment whether the given statement is true or false:

The given statement is true because the voluntary association is established to fulfill a specific common goal. It is not a profit organization. An entity has to be registered as a partnership or company to earn the profit and carry out the business activities. It has to register itself under specific laws (partnership or company).

Thus, the given statement is true.  

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Answer Details:

Grade: High School

Chapter: Type of association

Subject: Business Studies

Keywords: voluntary, association, typically, nonprofit, organization, formed, pursue, common, interest, individuals.