Blue,Inc ,Receives Its Support from the Following Sources

question 100

Multiple Choice

Blue,Inc. ,receives its support from the following sources. Governmental unit A,for services rendered $18,000 General public,for services rendered 25,000 Gross investment income 8,000 Contributions from individual substantial contributors (disqualified persons) 19,000 Which of the following statements is correct?

• A)Blue,Inc. ,is a private foundation because it satisfies the external support test and fails the internal support test.
• B)Blue,Inc. ,is not a private foundation because it fails both the internal and external support tests.
• C)Blue,Inc. ,is a private foundation because it satisfies both the external support test and the internal support test.
• D)Blue,Inc. ,is not a private foundation because it satisfies both the external support test and the internal support test.
• E)None of the statements is true.

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Definitions:

Wrong Person's Garage

A situation involving mistakenly entering or using someone else's garage premises, potentially leading to trespassing or property disputes.

Garage Sale

A sale of used household or personal items held privately, typically in the seller's garage or yard.

Battery

A criminal offense involving the unlawful physical acting upon a threat, notably harming another person.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, often leading to harm or damage.