Which of the Following Attributes Are Associated with Exempt Organizations

question 3

Multiple Choice

Which of the following attributes are associated with exempt organizations?

• A) Organization serves some type of common good.
• B) Organization is not a for profit entity.
• C) Net earnings do not benefit the members of the organization.
• D) Organization does not exert political influence.
• E) All of the above statements are true.

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Definitions:

Face Value

The nominal or dollar value printed on a security or a bond, representing its legal value.

Instalment Payment

A method of payment whereby the total cost of a purchase is divided into smaller amounts, to be paid over a specified period of time.

Loan

Borrowed money that is expected to be paid back with interest over a set period of time.

Non-Current Liability

Long-term financial obligations listed on a company's balance sheet, not due within one year.