Question: Whats the answer i would think E but I'm not sure. Which of the following is not prohibited of organizations receiving tax exempt status under

Whats the answer i would think E but I'm not sure.

Which of the following is not prohibited of organizations receiving tax exempt status under IRS Section 501(c)3?

A. Earning a profit (increase in net assets).

B. Endorsing political candidates or attempting to influence legislation.

C. Distributing earnings to the benefit of members or officers.

D. None of the above. All of these are prohibited of Tax Exempt organizations.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

I would like to do my NFP project onUnited States Fund for United Nations Children's Fund Prepare an executive summary paper on the Form 990 to include the following: a. A brief overview of your...

Q:

With the help of the case State Fair of Virginia, answer the following questions: What caused State Fair of Virginia to be in its current precarious financial condition? Who are the parties impacted...

Q:

Part I: Tax Policy and Case Questions Questions 1 - 5 are based on the following factual hypothetical: The parliament of Fantasia has decided it needs to enact an income tax. The tax is a simple one:...

Q:

Janice Morgan, age 32, is single and has no dependents. She is a freelance writer. In January 2011, Janice opened her own office located at 2751 Waldham road, Pleasat Hill, NM 88135. She called her...

Q:

need this done by the 12th. please follow the directions. There are 2 problems. the 2nd problem needs a 941, 940 and OH SUTA form with it. thanks Final Exam - Problem 2 941, SUTA and 940 Tax Return...

Q:

need this done by the 12th. please follow the directions. There are 2 problems. the 2nd problem needs a 941, 940 and OH SUTA form with it. thanks Final Exam - Problem 2 941, SUTA and 940 Tax Return...

Q:

need this done by the 12th. please follow the directions. There are 2 problems. the 2nd problem needs a 941, 940 and OH SUTA form with it. thanks Final Exam - Problem 2 941, SUTA and 940 Tax Return...

Q:

Hey i need help with a final semester project that i am doing where i was trying to do it by my self but could not do and this final assignmentis due by the first week of december. When doing the...

Q:

Analysis of the Form 990 for Not-for-Profits (NFPs) Human rights watch: https://www.hrw.org/ Explore the concepts of the class material relating to NFPs and Form 990s. You must find and review / read...

Q:

Analysis of the Form 990 for Not-for-Profits (NFPs) Human rights watch: https://www.hrw.org/ Explore the concepts of the class material relating to NFPs and Form 990s. You must find and review / read...

Q:

A single-input, single-output system has the state variable representation Xj(1) x (1) 0 -2 -3 y(t) = [3_1 1] [x(1) X2(1) X (1) X(1) + u(t)

Q:

Suppose the appropriate discount rate is 13 percent. What is the NPV of the project? Year 0 Year 1 Year 2 Year 3 Year 4 Investment -27000 Sales Revenue 14000 14500 15000 12000 Operating Cost -3000...

Q:

Calculate the return on equity for Dream Inc. with 1 5 % return on assets, 1 0 % return on debt, and a 0 . 7 5 debt / equity ratio? Question 2 9 Select one: a . 2 6 . 2 5 % b . 1 8 . 7 5 % c . 2 3 ....

Q:

P-1) (100 Pts.) A chemical manufacturing company (CMC) has a contract for the procurement of the neccssaly chemicals from four suppliers. The chemicals purchased from Supplier A are priced at $20...

Q:

Assess the impact of Frederick W. Taylor on managing employees. The student will be able to:

Q:

Identify four applications of HRM to healthcare organizations.

Q:

2-18 Identify and describe the capabilities of enterprise social networking software. Describe how a firm could use each of these capabilities.