Aaron, Inc. is a nonprofit corporation that collects and distributes food for needy families. Aaron, Inc. also operates a small grocery store for profit. Which of the following statements is true?
A) The income from the collection and distribution of food and the income from grocery store are taxable.
B) No income from either of the activities is taxable.
C) Only the income from the collection and distribution of food is taxable.
D) Only the income from the grocery store is taxable.
Correct Answer:
Verified
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