01 May Question1680. MC #1 Which of the following qualify as exempt organizations?
Question
1680. MC #1
Which of the following qualify as exempt organizations?
a. Federal and related agencies.
b. Religious, charitable, and educational organizations.
c. Civic leagues.
d. Domestic fraternal societies (e.g., the Eagles Club).
e. All of the above can be exempt from tax.
1681. MC #2
Which of the following are exempt organizations to which contributions made are eligible for the charitable contribution deduction?
a. National Basketball Association (NBA).
b. Red Cross.
c. American Institute of CPAs (AICPA).
d. Only b. and c.
e. a., b., and c.
1682. MC #3
Which of the following is not an example of an exempt organization?
a. Religious, charitable, or educational organization.
b. Voluntary employees’ beneficiary association.
c. Labor, agricultural, or horticultural organization.
d. American Federation of Teachers (a teachers’ union).
e. All of the above can be exempt from tax.
1683. MC #4
Which of the following are organizations exempt under § 501(c)(3)?
a. Girl Scouts of America.
b. Washington and Lee University.
c. Veterans of Foreign Wars (VFW).
d. Only a. and b. are § 501(c)(3) organizations.
e. All of the above are § 501(c)(3) organizations.
1684. MC #5
Which of the following is a requirement for exempt status?
a. The organization does not exert political influence.
b. The organization has not been subject to intermediate sanctions for the past 24 months.
c. The organization serves some type of common good.
d. Only a. and c.
e. a., b., and c.
1685. MC #6
Rose, Inc., a qualifying § 501(c)(3) organization, incurs lobbying expenditures of $145,000 during the taxable year. Exempt purpose expenditures are $500,000. If Rose makes the election under § 501(h) to make lobbying expenditures on a limited basis, its tax liability resulting from the lobbying expenditures is:
a. $0.
b. $7,250.
c. $11,250.
d. $36,250.
e. Some other amount.
1686. MC #7
Which of the following statements is correct?
a. No exempt organizations can engage in any lobbying activities.
b. Certain exempt organizations can elect to engage in lobbying activities on a limited basis.
c. Churches can engage in lobbying activities on an unlimited basis because of the separation of church and state provision.
d. Only b. and c. are correct.
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