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

L3Cs explicitly take on a social mission as well as profit-seeking

Explanation:

The options are:

a. L3Cs do not pursue profit, but instead seek social goals.

b. L3Cs cannot accept government funding of any kind.

c. L3Cs explicitly take on a social mission as well as profit-seeking.

d. L3Cs are chartered by the government and all profits are retained by the government.

An L3C is a limited liability company (LLC), which has both attributes of profit and non profit. It is usually set up in such a way that private investiors can be attracted and also provide social objectives.

The owners are not responsible for the debt of the organization and they usually participate in management. Therefore, the answer to the question is that L3Cs explicitly take on a social mission as well as profit-seeking

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