services, have stakeholders, create revenue, have bank accounts, can own assets, receive income from sales, enter into contracts and have investments. The differences for-profit businesses are that they function for the financial benefits of its owners and or shareholders, and pays taxes on their revenues. A nonprofit is a charitable business, whose role or mission is for the greater good of the society, and it is exempt from paying taxes, can be profitable, but their profits are used to facilitate…
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