Which of the Following Is Not an Example of an Exempt

question 29

Multiple Choice

Which of the following is not an example of an exempt organization?

• A) Religious, charitable, or educational organization.
• B) Voluntary employees' beneficiary association.
• C) Labor, agricultural, or horticultural organization.
• D) Stock exchange.
• E) All of these can be exempt from tax.

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Definitions:

QBO Mobile

The mobile application version of QuickBooks Online, designed for managing finances and accessing QuickBooks features on-the-go.

FICA

The Federal Insurance Contributions Act, which is a U.S. law that requires a payroll deduction for Social Security and Medicare.

FUTA

Stands for the Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on businesses to fund state workforce agencies.

Unemployment Taxes

Taxes paid by employers on the wages of their employees, which fund unemployment compensation programs.