Question

A corporation established for charitable, public (scientific, literary, or educational), or religious purposes or for mutual benefit (trade associations, tennis clubs), as recognized by federal and state laws, is a ____? 1) syndicate 2) operation 3) non-profit organization 4) for-profit organization

Answer 1

3) non-profit organization

Explanation:

A non-profit has goals that do not include making a profit for distribution to owners or shareholders. All monies collected are spent on the organization's goals, which which often includes organizational expenses (e.g., salaries and operation) but not on dividends.