If an Exempt Organization Conducts a Trade or Business That

question 67

True/False

If an exempt organization conducts a trade or business that is regularly carried on by the organization, it is subject to the unrelated business income tax (UBIT).

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Definitions:

Social Construction

The theory that much of what we perceive as reality is shaped by societal agreements and human interpretations.

White-Collar Crime

Non-violent crime committed by individuals, typically during the course of their occupation, for financial gain.

Savings And Loan Scandal

A financial scandal involving the mismanagement and fraudulent activities of savings and loan associations in the 1980s in the United States.

American Public

The general population of the United States, considered as the audience for media, political discourse, and cultural artifacts.