The Difference Between an L3C (Low Profit Limited Liability Company)

The difference between an L3C (low profit limited liability company) and other types of businesses is that:

A) L3Cs are chartered by the government and all profits are retained by the government.
B) L3Cs do not pursue profit, but instead seek social goals.
C) L3Cs explicitly take on a social mission as well as profit-seeking.
D) L3Cs cannot accept government funding of any kind.

Correct Answer:

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