Which of the Following Is a Not a True Statement

question 20

Multiple Choice

Which of the following is a not a true statement about tax-exempt organizations?

• A) They must be organized to serve the charitable needs of the public at large.
• B) They must first become a not-for-profit corporation or charitable trust.
• C) They are permitted to do some political lobbying if guidelines are met.
• D) Their unrelated business income is taxed at corporate income tax rates.

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Definitions:

United Kingdom

A nation with sovereignty situated to the northwest of continental Europe, consisting of England, Scotland, Wales, and Northern Ireland.

China

China is a country in East Asia, known for being the world's most populous country and having one of the largest economies globally.

Net Exports

The value of a country's total exports minus its total imports. It is a component of a country's GDP calculation.

Imports

Imports are goods or services brought into a country from abroad for sale.