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Quiz

Not-for-Profit Organizations

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Fragen in diesem Quiz (10)

  1. 1The term that means information skewed toward a particular belief with a tendency to have little or no factual basis is
    1. APolitical influence.
    2. BLegislation.
    3. CPropaganda.
    4. DLobbying.
  2. 2The income most likely to be considered unrelated business income of a human service organization that provides immunizations to children in the community is
    1. ARental of extra space in the building.
    2. BRegular sale of sweatshirts with the organization's logo on it at a price considerably above cost.
    3. CInterest and dividend income on investments.
    4. DGain on the sale of equipment no longer needed by the organization.
  3. 3The Internal Revenue Service may impose intermediate sanctions on all of the following transactions between a not-for-profit organization and its executive officer except
    1. AExcessive compensation.
    2. BMore than the fair rental value for property owned by the officer.
    3. CA bargain on the sale of assets.
    4. DFringe benefits comparable to those given to all employees.
  4. 4Which of the following is a reason why an NPO might fail to qualify for tax-exempt status?
    1. AIt is operated primarily for the benefit of its members.
    2. BIts officers are paid excessive wages.
    3. CIts primary purpose is to promote the passage of legislation favorable to institutions of higher education.
    4. DIt has unrelated business income.
  5. 5Which of the following not-for-profit organizations is most likely to be tax-exempt under IRC Sec. 501(c)(3)?
    1. ABeta Kappa Alpha Sorority.
    2. BPeaceful Dreams Cemetery Association.
    3. CRegional Association of Tree Trimmers.
    4. DSurvivors of Breast Cancer Club.
  6. 6Which of the following is a not a true statement about tax-exempt organizations?
    1. AThey must be organized to serve the charitable needs of the public at large.
    2. BThey must first become a not-for-profit corporation or charitable trust.
    3. CThey are permitted to do some political lobbying if guidelines are met.
    4. DTheir unrelated business income is taxed at corporate income tax rates.
  7. 7All of the following are examples of acts or policies that are uniform across the United Stated for not-for-profit organizations except
    1. AUniform Prudent Management of Investment Funds Act of 2006.
    2. BModel Charitable Solicitation Act.
    3. CUniform Executive Compensation Act.
    4. DVolunteer Protection Act of 1997.
  8. 8All of the following are reasons why the Internal Revenue Service (IRS) overhauled the Form 990 for tax years beginning in 2008 except
    1. ATo minimize the burden of filing on tax-exempt organizations.
    2. BTo shorten the time it takes to complete a return for large not-for-profit organizations.
    3. CTo enhance transparency about the organization.
    4. DTo allow the IRS to efficiently assess noncompliance.
  9. 9A good measure of whether a not-for-profit organization is "liquid" and can meet its short-term obligations is
    1. APercentage of total expenses spent on the program function as opposed to support function.
    2. BTotal revenues divided by total expenses.
    3. CCurrent assets divided by current liabilities.
    4. DPercentage of unrestricted net assets to operating expenses.
  10. 10A good measure of whether a not-for-profit organization is a "going concern" and can sustain its operations into the future is
    1. ATotal revenues divided by assets.
    2. BPercentage of unrestricted net assets to operating expenses.
    3. CPercentage of total expenses spent on the program function as opposed to support function.
    4. DPublic support divided by total fund-raising expenses.

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Beschreibung
Chapter 14
Sprache
English
Aufrufe
978
Bewertung
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