Which of the Following Statements Are Correct with Respect to the Unrelated

question 67

Multiple Choice

Which of the following statements are correct with respect to the unrelated business income tax?

• A)Under certain circumstances,a corporate sponsorship payment can be classified as not being an unrelated trade or business.
• B)Under certain circumstances,a casino game can be classified as not being an unrelated trade or business.
• C)Under certain circumstances,the exchanging or renting of membership lists to other exempt organizations can be classified as not being an unrelated trade or business.
• D)Only a.and c.are correct.
• E)a.,b.,and c.all are correct.

---

Definitions:

Mortgage

A loan secured by the collateral of real estate property, where the borrower is obliged to pay back with a predetermined set of payments.

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party.

Creditor

An individual or institution to whom money is owed.

Special Warranty Deed

A Special Warranty Deed is a type of deed in which the seller guarantees they have not impaired the title but only during their ownership.