A § 501(c)(3)organization That Otherwise Would Be Classified as a Private

question 53

Multiple Choice

A § 501(c) (3) organization that otherwise would be classified as a private foundation can avoid such classification if it satisfies:

• A)Only an external support test.
• B)Only an internal support test.
• C)Both an external support test and an internal support test.
• D)An external support test, an internal support test, and good faith test.
• E)None of the above.

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Definitions:

Dual Agency

A real estate arrangement where one agent represents both the buyer and the seller in a transaction.

Apparent Authority

The ability of an agent to bind a principal where the principal has not notified third parties of the restricted or terminated authority of the agent.

Principal

A person on whose behalf an agent acts.

Terminated

The end of an employee's employment due to dismissal or discharge by the employer, often for cause or due to organizational changes.