A financial institution that accepts deposits makes loans and provides other services as a nonprofit organization is called a:
A. Credit Union
B. Retail Bank
C. Title Pawn Lender
D. Payday Lender

Answers

Answer 1

Credit Unions are nonprofit financial institutions that accept deposits, provide loans, and offer other services. As a result, choice (A) is right.

What is meant by a  nonprofit organization?

A nonprofit organization (NPO) or non-profit organization is a legal entity organized and operated for a collective, public, or social benefit, as opposed to an entity that operates as a business with the goal of making a profit for its owners. It is also referred to as a non-business entity,[1] or nonprofit institution,

The non-distribution constraint applies to nonprofit organizations, which means that any surplus funds must be used to further their mission rather than being distributed to other parties.

A wide range of organizations, including certain political organizations, schools, business organisations, churches, social clubs, and consumer cooperatives, are nonprofit. Governments may grant tax-exempt status to nonprofit organizations, and some may be eligible for tax-deductible donations. However, an organization can establish as a nonprofit organization without obtaining tax-exempt status.

Learn more about nonprofit organization, from :

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Related Questions

... is an economic system where consumers can choose what to buy and where to buy

A. Planned economic system
B. Mixed economic system
C. Market economic system
D. Tradition economic system ​

Answers

it is C. Market Economic system!

as I read and knew once I found of by reading the sentence you put.

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Answer:

it can be either mixed or a market economy

Explanation:

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