Final answer:
The correct statement about not-for-profit corporations is that they are formed for charitable or educational purposes and reinvest any surplus revenues back into the organization.
Step-by-step explanation:
The statement about not-for-profit corporations that is most correct is: They are formed for charitable or educational purposes. Not-for-Profit Organizations have the primary mission of providing services for the benefit of society rather than making a profit. They typically engage in charitable, religious, or educational pursuits and any surplus revenues are reinvested into the organization to further its cause, instead of being distributed as profits.
While not-for-profit corporations do benefit from certain tax exemptions, they are not completely exempt from paying taxes. Moreover, they are indeed subject to government regulations, which they must comply with to maintain their non-profit status and tax privileges.