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Jade, Kelly and Lila organize a nonprofit business called JKL Markets, Inc. to buy groceries from wholesalers and sell them to consumers who buy a...

Jade, Kelly and Lila organize a nonprofit business called JKL Markets, Inc. to buy groceries from wholesalers and sell them to consumers who buy a membership in JKL. Because the firm is a nonprofit entity, it is able to sell groceries for less than a commercial grocer could. What form of business organization is JKL Markets? Is it significant that JKL is incorporated? Why?

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