Tan, Inc, a Tax-Exempt Organization, Has $65,000 of Net Unrelated Business

question 130

Multiple Choice

Tan, Inc., a tax-exempt organization, has $65,000 of net unrelated business income.Total charitable contributions (all associated with the unrelated trade or business) are $7,500.Assuming that the $7,500 was deducted in calculating net unrelated business income, what is Tan's unrelated business taxable income?

• A)$57,500.
• B)$65,250.
• C)$66,000.
• D)$72,500.
• E)Some other amount.

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Definitions:

Superstitious Behavior

Actions based on irrational beliefs that certain rituals, symbols, or practices can influence the outcome of events without a logical basis.

High-Stress Situation

Circumstances that significantly increase the emotional or physical stress levels of an individual or group.

Kelly's Covariation Theory

A psychological theory that explains how people attribute causation based on the consistency, distinctiveness, and consensus of an observed behavior.

Causal Attributions

The process by which individuals infer the causes of their own and others' behaviors, actions, and events.