Organizations Exempt Under Section 501(c)(3)of the Internal Revenue Code Are

question 80

Multiple Choice

Organizations exempt under section 501(c) (3) of the Internal Revenue code are required to file Form 990 or in some cases an alternate form by the 15th day of which month?

• A) The 9th month following the taxable year of the organization
• B) The 3rd month of the calendar year
• C) The 5th month following the taxable year of the organization
• D) The month in which the organization originally filed

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Definitions:

Risky Shift

In group decision making, the tendency for decisions made in groups after discussion to be riskier than decisions made by individual members prior to discussion.

Risk Avoidant

Characterizes individuals or strategies that prioritize minimizing potential losses or risks.

Justice Principle

The ethical concept that emphasizes fairness and the equitable treatment of individuals in decision-making processes and distribution of resources.

Profits

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.