Which of the following activities regularly conducted by a tax-exempt organization will result in unrelated business income? A. Selling items made by persons with disabilities as part of their rehabilitation when the organization is involved exclusively in their rehabilitation. B. Operating a grocery store staffed almost entirely by persons with mental health conditions as part of a therapeutic program. C. Regularly holding a casino night fundraiser that is open to the public but staffed entirely by unpaid volunteers. D. Selling pet boarding and grooming services to the general public when the organization is involved in preventing cruelty to animals.
Which of the following activities regularly conducted by a tax-exempt organization will result in unrelated business income? A. Selling items made by persons with disabilities as part of their rehabilitation when the organization is involved exclusively in their rehabilitation. B. Operating a grocery store staffed almost entirely by persons with mental health conditions as part of a therapeutic program. C. Regularly holding a casino night fundraiser that is open to the public but staffed entirely by unpaid volunteers. D. Selling pet boarding and grooming services to the general public when the organization is involved in preventing cruelty to animals.
Chapter3: Business Income And Expenses
Section: Chapter Questions
Problem 14MCQ
Related questions
Question
Which of the following activities regularly conducted by a tax-exempt organization will result in unrelated business income?
A. Selling items made by persons with disabilities as part of their rehabilitation when the organization is involved exclusively in their rehabilitation.
B. Operating a grocery store staffed almost entirely by persons with mental health conditions as part of a therapeutic program.
C. Regularly holding a casino night fundraiser that is open to the public but staffed entirely by unpaid volunteers.
D. Selling pet boarding and grooming services to the general public when the organization is involved in preventing cruelty to animals.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT