Match the Following Tax Forms

question 63

Multiple Choice

Match the following tax forms.
-Form 1024

• A)Return of Private Foundation.
• B)Application for Recognition of Exemption under § 501(c)(3).
• C)Return of Organization Exempt from Income Tax.
• D)Application for Recognition of Exemption under § 501(a).

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Definitions:

Common Stock

A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's profits and assets.

Par Value

The nominal or face value of a stock or bond as stated by the issuer, which does not necessarily reflect its market value.

Cumulative Preferred Stock

A type of preferred stock where dividends accumulate if not paid, with all past unpaid dividends required to be paid out before any dividends can go to common stockholders.

Common Stock

Equity securities that represent ownership shares in a corporation, giving holders voting rights and potential dividends but with no fixed dividend rate.