Which of the Following Attributes Are Associated with Exempt Organizations

question 80

Multiple Choice

Which of the following attributes are associated with exempt organizations?

• A) The organization serves some type of common good.
• B) The organization is not a for-profit entity.
• C) Net earnings do not benefit the members of the organization.
• D) The organization does not exert political influence.
• E) All of these statements are true.

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Definitions:

Federal Unemployment Tax

A tax imposed on employers to fund state workforce agencies.

Double-Declining-Balance

An accelerated depreciation method that doubles the rate of depreciation of an asset's value compared to the straight-line method.

Depreciation Rate

The percentage at which an asset's value decreases over time due to use, wear, or obsolescence.

Land Improvements

Enhancements to a plot of land such as landscaping, fencing, and driveways, which increase the property's usability and value.