A Private Foundation Can Be Subject to an Excise Tax

question 151

Multiple Choice

A private foundation can be subject to an excise tax on:

• A) Making jeopardizing investments.
• B) Engaging in self-dealing.
• C) Both a. and b.
• D) Neither a. nor b.

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Definitions:

Irrigation Water

Water that is supplied to crops to assist in their growth, often through artificial means such as sprinklers or drip lines.

Wasted

Resources or materials that are disposed of or used inefficiently or ineffectively.

Canadian Households

Residential units in Canada where individuals or groups of people live, representing the domestic aspect of culture and economy.

Flushing Toilets

Sanitation fixtures used for the disposal of human urine and feces by using water to flush them through a drainpipe to another location.