Question

Josey started a business called Music and Memoriesâ„¢. She recognized that music, socialization, and memory-challenging activities for senior citizens helped maintain their cognitive skills for longer periods of time. Though she strives for a financial gain, she uses the excess funds for enriching her programs instead of a personal profit. Music and Memoriesâ„¢ is best classified as a(n) ______ organization.a. nonprofitb. insourcedc. profit-seekingd. outsourced

Answer 1

Answer:

Answer is option a, i.e. non-profit organization.

Explanation:

Non-profit organizations are the types of organization that aims at investing the profits gained on the taking further the goals and mission of the organization rather than investing it for their personal benefits. Therefore, here Josey's business is referred to as the non-profit organization as she uses the excess funds on enriching her programs and not on her personal benefits.