All Charitable Trusts Must Benefit the Public

question 5

True/False

All charitable trusts must benefit the public.

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Definitions:

General Corporations

A legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. Corporations have legal rights, liabilities, and can enter contracts.

Capital Item

Long-lasting goods that a firm acquires and uses in the production of other goods or services that have a life span extending beyond one year.

Specialty Products

Goods or services that are perceived as unique or high-value by consumers, often requiring a significant effort to search for and purchase.

Shopping Products

Goods that require consumer research and comparison of brands before purchase because of their higher price or quality, such as appliances or clothing.