Which of the following is a reason why an NPO might fail to qualify for tax-exempt status?
A) It is operated primarily for the benefit of its members.
B) Its officers are paid excessive wages.
C) Its primary purpose is to promote the passage of legislation favorable to institutions of higher education.
D) It has unrelated business income.
Correct Answer:
Verified
Q22: The following are key terms in Chapter
Q24: Describe the process for becoming a tax-exempt
Q25: The following are types of ratios described
Q26: A good measure of whether a not-for-profit
Q28: Public disclosure rules require that a tax-exempt
Q28: The Internal Revenue Service may impose intermediate
Q29: The incorporating documents that have an internal
Q30: The incorporating documents that have an external
Q32: A good measure of whether a not-for-profit
Q38: All of the following are reasons why
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