The Key Factors in Determining Whether an Exempt Entity's Income

question 36

True/False

The key factors in determining whether an exempt entity's income from a bingo game is unrelated trade or business income are whether substantially all the work is performed by volunteers and all of the prizes to be awarded are received as donations.

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Definitions:

Policies and Rules

Established guidelines and principles designed to govern behavior and decisions within an organization.

Ethical Dilemma

An ethical dilemma is a situation where a person is faced with a decision that involves a conflict between moral imperatives.

Potential Benefit

The expected advantage or positive outcome that may result from a specific action or decision.

Interactional Justice

The degree to which others are treated with dignity and respect.