An Exempt Organization Is Located in the State of Nevada

question 75

True/False

An exempt organization is located in the state of Nevada.Gambling in Nevada is legal.Therefore, bingo games are conducted by both taxable and tax-exempt organizations.If the net earnings from the bingo games are less than $25,000, the exempt organization is not subject to the unrelated business income tax (UBIT).

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Definitions:

Two-dimensional Array

A matrix-like structure that allows for storage and organization of data in rows and columns, facilitating operations on multi-dimensional data.

Function Prototype

A declaration of a function that specifies the function's name, return type, and parameters, used to inform the compiler about the function's existence before its actual definition.

Two-dimensional Argument

Refers to an argument of a function that is a two-dimensional array or a list of lists.