Not-For-Profit Organisations _________

question 22

Multiple Choice

Not-for-profit organisations _________.

• A)do not have competition because they do not seek profits
• B)have no competition because they offer unique services
• C)compete over donations, volunteers and clients
• D)compete only over donations

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Definitions:

Taxpayer

A person or organization required to make tax payments to governmental authorities at the federal, state, or local level.

Standard Deduction

A fixed amount that taxpayers can subtract from their income before income tax is applied, reducing their taxable income.

Full-Time Student

A status for individuals attending an educational institution in a higher education setting, generally taking a specified minimum number of credits or hours.

Dependent

A person, typically a child or family member, who relies on the taxpayer for financial support and can be claimed for tax deductions or credits.