The Excise Tax That Is Imposed on Private Foundations for Making

question 95

True/False

The excise tax that is imposed on private foundations for making jeopardizing investments is imposed because the foundation has made speculative investments that put the foundation's income at risk.

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Definitions:

Application Service Provider

A business that provides computer-based services to customers over a network, including access to particular application software.

Personal Digital Assistant

A handheld device that combines computing, telephone/fax, Internet, and networking features.

Executive Information System

A type of management support system that provides senior executives with easy access to important internal and external information relevant to strategic decision-making.

Operating System

Software that manages computer hardware and software resources and provides common services for computer programs.