corporation is not an exempt

Q: Explain Not-for-profit entities.

A: Earnings: The bottom line of income statement which is the result of excess of earnings from…

Q: How fund structures and financial reports of not-for profit differ from those of governments?

A: Non-profit organizations: These are the organizations established not with the intention of earning…

Q: What issue does agency theory examine? Why is it important in a public corporation rather than in a…

A: In agency theory, shareholders give manager the decision making authority over the firm, thus…

Q: Which of the following is subject to income tax? SSS and GSIS Philippine Health Insurance…

A: Subject to income tax means on which of the following income tax is levied. SSS (Social security…

Q: Which of the following taxable entities is subject to preferential tax rate/s? *   Non-stock,…

A: The question is related to entities subject to preferential tax rate. Preferential tax rate is a…

Q: poration code of the Philippines,When is it possible for a Special Corporation to be subject to both…

A: Special corporations are the corporations governed by special laws such as educational corporations…

Q: Is the vote of the majority of the board also necessary for the approval of the by-laws of the…

A:

Q: A corporation existing in fact but not in law   Choices; De facto corporation De jure corporation…

A: De facto corporation refers to the existence of the company in reality but not recognised by law. De…

Q: tax-exempt corporations

A: Tax-exempt status is given to the nonprofit corporation in order to exempt them from paying income…

Q: How does a benefit corporation’s charter differ from that ofa typical U.S. corporation?

A: Corporate structure that extends directors' fiduciary obligations to incorporate different interests…

Q: How is a One Person Corporation different from a Regular Domestic Corporation

A: Regular domestic corporations were very famous because of their limited liability ,…

Q: Which of the following is not a liability? a) Amounts owed to shareholders as capital b)…

A: Amount owed to shareholders is not a liability. We recognise liability in the balance sheet if there…

Q: Which circumstance is an example of why Congress established the nonrecognition of gain or loss when…

A: The circumstance that is an example of why congress established the recognition of gain or loss when…

Q: The following corporations are governed by the Revised Corporation Code, except: * A. Stock…

A: Corporation- A corporation is an organization registered under any corporation act which makes its…

Q: Which one of the following is covered by the Commercial company law of Oman? a. Municipalities b.…

A: limited liability companies and joint stock companies are covered by the Commercial company law of…

Q: The income from operations of the following corporations are not subject to the regular corporate…

A: A corporation is a legal entity that may be created by an individual or a group of people with a…

Q: An S Corporation is not permitted to take a deduction for: Officers’ compensation Interest paid to…

A: Charitable Contribution Charitable contribution in which the person given for the help of  effected…

Q: ss major differences between a governmental entity's uses of the modified accrual method and a…

A: Modified Accrual Accounting: An Explanation To understand how modified accrual accounting works,…

Q: What is the reason for renewed interest in not-for-profits corporations?

A: Non-profit corporation  owners do not make a profit. The money of a not-for-profit organisation is…

Q: Which of the following is tax exempt on its income earned as such?   Religious corporation…

A: Second option i.e. Non-stock, non-profit educational institution, is the correct answer.

Q: Statement 1: Government owned and controlled corporations are taxable on their income as such.…

A: Here consider the fact of tax liability which are incurred with the Philippines government owned and…

Q: The Merritt Committee Investigation looked into solutions for dealing with:

A: The Merritt Committee Investigation was done in the year 1910 and this followed the Armstrong…

Q: Is this set up possible? X a charitable corporation entered into a joint arrangement with SMC…

A: A charitable corporation is an entity which works for "Not-for-profit" motive with a thought process…

Q: The following are requirements for tax exemption of income of non-stock, non-profit corporations,…

A: Tax is the amount which an individual or business owes to the government for business operation…

Q: Which one of the following is covered by the Commercial company law of Oman? a. Municipalities b.…

A: Joint stock companies are covered by the Commercial company law of Oman.Option b Joint-stock…

Q: What are not-for-profit corporations?

A: Definition  A nonprofit corporation is a business that exists for the public welfare rather than for…

Q: Explain  the impact of a tax-exempt status in the case of not-for-profit organisation.

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: What is not-for-profit corporation?

A: Nonprofit organization: It basically comes under a non-profit motive organization like banking…

Q: “The debt of government-owned corporation is guaranteed by the full faith and credit of the U.S.…

A: Full faith and credit means the unconditional commitment and guarantee provided by government with…

Q: What are the distinguishing characteristics between a public charity and a private foundation? what…

A: Public charity: Receive financial support from the general public and it has less restriction…

Q: Which of the following is wrong? *   Foreign and domestic banks may have an EFCDU. A non-profit…

A: FCDUs under their license ae limited to short-term foreign currency denominated transactions and the…

Q: What is the difference between private Canadian corporation and public Canadian corporations?

A: According to the Government of Cannada, For tax purposes, the corporations are divided into types of…

Q: The interest paid by municipal bonds is not subject to federal income taxation.  a. True    b. False

A: Municipal bonds also called as Muni bonds is a bond which is issued by the state governments, local…

Q: Which of the following is wrong? The expenses of exempt corporations from exempt operations are…

A: Answer: Three statements are given: The expenses of exempt corporations from exempt operations are…

Q: What is the reasoning behind the tax laws which allow investors of municipal bonds to not pay…

A: TAX is a charge levied by the government on the income earned by the personal or organisation.

Q: ements for tax exemption C. Type of for-profit business that also has a social mission D. Type of…

A: The definition of S corporation as,

Q: What issue does agency theory examine? Why is it important in a public corporation rather than in a…

A: Agency theory states the fiduciary duty of management towards the shareholders. The duty is to…

Q: Social Security System (SSS) contributions are required from the individuals who are employed in the…

A: Social Security System(SSS) provides death, funeral, maternity leave, permanent disability,…

Q: What distinct advantage does a private or Subchapter S-corporation haveover the public corporation?

A: Business organization refers to any organization which is formed to carry out the commercial…

Q: Distinguish between not-for-profit and for-profit corporations.

A: Corporation: A business concern where there is a separate legal entity, and are owned by…

Q: Do proprietary educational institutions enjoy the same tax exemption privilege. as non-stock,…

A: There is now confusion about the taxation of educational institutions relating to ownership, stock,…