CHAPTER 23 - Matching

CHAPTER 23 - Matching - MATCHING Give an example of the...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: MATCHING Give an example of the indicated types of exempt organizations. a. League of Women Voters. b. Teachers association. c. American Plywood Association. d. Six Flags over Texas theme park. e. Salvation Army. 1. 501(c)(3) organization 2. 501(c)(4) civic league 3. 501(c)(5) labor organization 4. 501(c)(6) business league 5. Not an exempt organization 1. ANS: E REF: Exhibit 23-1 2. ANS: A REF: Exhibit 23-1 3. ANS: B REF: Exhibit 23-1 4. ANS: C REF: Exhibit 23-1 5. ANS: D REF: Exhibit 23-1 Match the following statements with the correct description. a. Exempt organization under 501(c)(3). b. May not be subject to Federal income tax. c. Permits limited lobbying activities. d. Exempt organization under 501(c)(7). e. Carries on a trade or business for the benefit of an exempt organization and remits its profits to the exempt organization. 6. Exempt organization 7. Feeder organization 8. University of Virginia 9. Kentwood Rodeo Club 10. 501(h) 6. ANS: B REF: p. 23-2 | p. 23-7 | p. 23-9 | Footnote 14 | Exhibit 23-1 7. ANS: E REF: p. 23-2 | p. 23-7 | p. 23-9 | Footnote 14 | Exhibit 23-1 8. ANS: A REF: p. 23-2 | p. 23-7 | p. 23-9 | Footnote 14 | Exhibit 23-1 9. ANS: D REF: p. 23-2 | p. 23-7 | p. 23-9 | Footnote 14 | Exhibit 23-1 10. ANS: C REF: p. 23-2 | p. 23-7 | p. 23-9 | Footnote 14 | Exhibit 23-1 For each of the following taxes which are imposed on private foundations, match the appropriate initial tax or additional tax....
View Full Document

This note was uploaded on 04/07/2011 for the course ACCT 640 taught by Professor N/a during the Spring '11 term at Davenport.

Page1 / 5

CHAPTER 23 - Matching - MATCHING Give an example of the...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online