Asked by Anissa Hoyte on Jul 05, 2024

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A benefit corporation , also called a public benefit corporation or B-corporation, is a corporate entity whose legally defined goals are only having a positive impact on society and the environment, not making a profit.

Benefit Corporation

A type of business structure that embeds social and environmental objectives into its charter in addition to profit-making goals.

Legal Goals

Objectives that laws and legal systems aim to achieve, such as justice, protection of rights, and maintenance of social order.

Positive Impact

The beneficial effect or outcome that positively affects a community, environment, or individual.

  • Recognize the characteristics and legal requirements for different types of corporations, including benefit, professional, and closely held corporations.
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Verified Answer

MZ
Maoting ZhongJul 11, 2024
Final Answer :
False
Explanation :
A benefit corporation aims to have a positive impact on society and the environment while also being profitable. It balances profit and purpose, not solely focusing on social and environmental benefits.