A Corporation Cannot Be Formed Without a Profit-Making Purpose

question 72

True/False

A corporation cannot be formed without a profit-making purpose.

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Definitions:

Changeable Situation

Situations or circumstances that are subject to alteration or modification, possibly through human intervention or naturally over time.

Internal Locus

is a psychological concept referring to individuals who believe they can control their life events and outcomes through their own efforts.

External Locus

The belief that one's successes or failures result from external factors beyond their control, contrasted with an internal locus of control.

Optimist

A person inclined to anticipate the best possible outcome, maintaining a hopeful and positive outlook on life and future events.