Which statement is TRUE for not-for-profit organizations? Not-for-profit corporations are subject to double taxation Not-for-profits are generally

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Which statement is TRUE for not-for-profit organizations? Not-for-profit corporations are subject to double taxation Not-for-profits are generally exempt from all levels of property, income, and sales taxes The residual earnings of the organization belong to the board of directors None of these are true of not-for-profit organizations