For an Exempt Organization to Be Subject to the Unrelated

question 91

True/False

For an exempt organization to be subject to the unrelated business income tax, the trade or business must not be substantially related to the exempt purpose of the organization.

---

Definitions:

Accounting Equation

Formula that represents the relationship between the assets, liabilities, and owner's equity of a company: Assets = Liabilities + Owner’s Equity.

Identification Codes

Unique sequences of numbers or letters used to identify specific items, individuals, transactions, or documents.

Clients Paid

Transactions where clients or customers have settled their invoices or bills, transferring money to the service provider or seller.

Office Furniture

This term covers items such as desks, chairs, and filing cabinets used in an office setting to facilitate work and operations.