A Volunteer Fire Company Is Mostlikely Organized Under Section

1. A volunteer fire company is mostlikely organized under Section: a.501(c)(1)b.501(c)(3)c.501(c)(4)d.501(c)(7)2. An organization that promotes itsmembers’ common business interests ismost likely organized under Section: a.501(c)(2)b.501(c)(5)c.501(c)(6)d.501(c)(9)3. An association of workers who havecombined to protect and promote theinterests of its members by bargainingcollectively is most likely organized under Section: a.501(c)(2)b.501(c)(5)c.501(c)(6)d.501(c)(9)4. A contribution to an organization organizedunder this Section has the bestodds of being deducted as a charitablecontribution: a.501(c)(3)b.501(c)(4)c.501(c)(5)d.501(c)(6)5. An organization organized under thisSection has the best odds of NOT beingsubject to the tax on unrelatedbusiness income: a.501(c)(4)b.501(c)(3)c.501(c)(2)d.501(c)(1)6. Generally, a 501(c)(4) organizationmust: a.Provide benefit to a communityb.Benefit every member of a communityc.Provide equal benefits to members of the communityd.All of the above7. Net earnings of a 501(c)(5)organization may NOT benefit any: a.Private shareholder or individualb.Non-residentc.Memberd.Both “a” and “b”8. Net earnings of a 501(c)(6)organization may NOT benefit any: a.Private shareholder or individualb.Non-residentc.Memberd.Both “a” and “b”9. Which of the following activities isLEAST likely to be EXCLUDED from thedefinition of unrelated trade orbusiness?a.A trade or business in which substantially all the work is performed for theorganizationwithout compensationb.A bingo game that is legal where it is played (and played in a jurisdictionwherebingo games are not regularly carried on by for-profits)c.Payments for advertising that strongly endorses sponsor’s productsd.A trade or business carried on by a university primarily for the convenience ofitsstudents10. Which payment (by Big Bank to BigUniversity) is MOST likely to beconsidered a qualified sponsorshippayment?a.A payment whereby Big University agrees to show Big Bank’s logo at certainBigUniversity’s athletic eventsb.A payment whereby Big University agrees to broadcast messages containingqualitativelanguage and price information about Big Bank’s products and servicesc.A payment whereby Big University agrees to endorse Big Bank’s products andservicesd.None of the above payments could be a qualified sponsorship payment

Originally posted 2018-07-06 17:53:17. Republished by Blog Post Promoter