Blue, Inc, Receives Its Support from the Following Sources A) Blue, Inc

question 128

Multiple Choice

Blue, Inc., receives its support from the following sources.
$\begin{array}{llr} \text { Governmental unit \( A \) , for services rendered } &\$18,000\\ \text {General public, for services rendered } &25,000\\ \text {Gross investment income } &8,000\\ \text { Contributions from individual substantial contributors (disoulalified persons) } &19,000\\\\\text { Which of the following statements is correct? }\end{array}$

• A) Blue, Inc., is a private foundation because it satisfies the external support test and fails the internal support test.
• B) Blue, Inc., is not a private foundation because it fails both the internal and external support tests.
• C) Blue, Inc., is a private foundation because it satisfies both the external support test and the internal support test.
• D) Blue, Inc., is not a private foundation because it satisfies both the external support test and the internal support test.
• E) None of the statements is true.

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