Organizations that are referred to as not-for-profits and can include charitable organizations but not organizations such as universities,political parties,labor union,social clubs,and others.

Question

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The statement is incorrect. Not-for-profit organizations can include all the organizations mentioned above, including universities, political parties, labor unions, social clubs, and others. The key feature of a not-for-profit organization is that any profits that are generated are not distributed to owners or shareholders but instead are reinvested in the organization to further its mission.

Organizations That Are Referred to as Not-For-Profits and Can Include