When a not-for-profit corporations dissolves,its assets are ________.
A) transferred to the federal government
B) distributed among major donors
C) passed to the owners' families
D) given to a similar not-for-profit group
E) seized by the state

Question

Quizplus · Accepted Answer

When a not-for-profit corporation dissolves, its assets are typically given to a similar not-for-profit group that shares a similar mission or purpose. This ensures that the organization's work and impact can continue even after it has ceased to operate. Generally, the board of directors will carefully select the receiving organization to ensure that the donation is being used effectively and ethically.

When a Not-For-Profit Corporations Dissolves,its Assets Are ________