Which of the Following Statements About Incorporated Not-For-Profit (NFP)organizations Is

question 13

Multiple Choice

Which of the following statements about incorporated not-for-profit (NFP) organizations is true?

• A)Incorporated NFP organizations can only issue preferred share capital.
• B)Incorporated NFP organizations do not have share capital.
• C)Incorporated NFP organizations can only be government-owned.
• D)NFP organizations cannot be incorporated.

---

Definitions:

Discharged

The state of being released from a legal, financial, or other obligation.

Substantially Performed

A legal concept indicating that a contract has been fulfilled enough to meet its essential requirements, despite minor variances from the exact terms.

Concurrent Conditions

In a contract, terms under which each party’s performance is conditioned on the performance of the other; occur only when the parties are required to perform for each other simultaneously.

Extrinsic Rewards

Rewards provided by an external source, such as money, grades, or praise, which can motivate behavior that might not occur otherwise.