Match the following statements.
a. Exempt from tax on unrelated business.
b. Inappropriate definition.
c. Exempt organization may be subject to the tax on unrelated business income.
d. Annual information return of an exempt organization that is required to file a return and which is not a private foundation.
e. Appropriate definition.
f. Annual information return of a private foundation.
-The trade or business consists of selling merchandise, and substantially all of the merchandise has been received as gifts or contributions.

Question

Quizplus · Accepted Answer

The Answer of Match the following statements.
a. Exempt from tax on unrelated business.
b. Inappropriate definition.
c. Exempt organization may be subject to the tax on unrelated business income.
d. Annual information return of an exempt organization that is required to file a return and which is not a private foundation.
e. Appropriate definition.
f. Annual information return of a private foundation.
-The trade or business consists of selling merchandise, and substantially all of the merchandise has been received as gifts or contributions.

Match the Following Statements