Match the Following Statements

question 1

Multiple Choice

Match the following statements.
-Bingo games

• A)Distribution of such items is not considered an unrelated trade or business if they are "low-cost items".
• B)Is considered an unrelated trade or business if the amount received is contingent upon the level of attendance at one or more events
• C)Is considered an unrelated trade or business if legally it can be conducted by commercial (for-profit) entities.
• D)A trade or business that consists of either renting or exchanging these with another exempt organization is not an unrelated trade or business.

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Definitions:

Retirement Benefits

Payments made in the form of pensions or annuities to individuals who are retired from active work, generally funded through prior employment contributions.

Qualified Pension Plan

A retirement plan that meets requirements established by the Internal Revenue Code, offering tax advantages such as tax-deferred growth on earnings.

Ordinary Income Rates

Tax rates applicable to an individual's ordinary income, including wages, salaries, commissions, and income from interest or dividends, which are taxed at progressive rates.

Employee Contributions

Employee Contributions are amounts set aside from an individual's earnings into retirement plans, benefit plans, or taxes, often deducted directly from their paycheck.