Question 53 of 75 Which of the following is NOT an example of an exempt organization? O Labor, agricultural, or horticutural organization. 0 social clubs. O Stock exchanges. O Recreational organizations Dark tor tolow up Question 54 of 75. Which of the following is NOT one of the three unrelated business income activity categories? The organization must be conducting a trade or business, including activities (even if unprottable) carried on for the production of income from seling goods or performing servic primarity for the convenience of its members, students, patients, officers, or employe r business must be regularly carried on (that is, the activity's frequency, continuity, and manner of conduct are comparable to the commercial operations of similar for- O An actvity carried on by an IRC 5501(cX3) entity or by a The achity is not substantally related to the organization's exempt purpose. This means the aclvty does not contribute importanty to the exempt purposes Mark for tollow up de Question 55 of 75 The maximum penalty for exempt organizations that tail to file a required return for any one return is the smaller of O $5,000 O $10,000 or 5% or the organization's gross receipts for th $20,000 O s50,000 Mark for totow up Back Save / Return Later Summary Next