Which of the following conditions is applicable to all 501(c) (3) organizations?
A) they must be classified as a church, educational, or charitable institution
B) their earnings should be used to benefit the shareholders
C) profit must be reinvested and used for the organization's exempt purpose
D) shareholder earnings are limited by the tax code
Correct Answer:
Verified
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Q29: What government agency authorizes a C-corp?
A)the state
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Q34: Which of the following is NOT true
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