Green Haven Is an Organization Whose Earnings Are Exempt from Federal

question 96

Multiple Choice

Green Haven is an organization whose earnings are exempt from federal and state income taxes. Individuals who contribute money to the organization can avail the benefit of tax deduction. However, the organization is barred from distributing dividends to its members. Given this information, Green Haven is most likely a(n) :

• A) S corporation.
• B) C corporation.
• C) not-for-profit corporation.
• D) statutory close corporation.

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Definitions:

Korsakoff's Syndrome

A chronic memory disorder caused by severe deficiency of thiamine (vitamin B1), most often associated with prolonged alcoholism.

Confabulation

The creation of altered, false, or misrepresented recollections about one's own life or the world, without the deliberate aim to mislead.

Alzheimer's Disease

A degenerative brain disorder characterized by memory loss, cognitive decline, and personality changes.

Anterograde Amnesia

The loss of the ability to create new memories after the event that caused the amnesia.