regrine Global Services - BACC 435 - Advanced Accounting Theory - Question - Mozilla Firefox 8 https://micro.peregrineglobal.com/exam/?KIUQRWkryhpTXZrmF970kGTCEPB8/oyBpCqmy+u8A7hAJHVE6Epq2pknclVnIA8R PEREGRINE 53F Sunny GLOBAL SERVICES BACC 435 Advanced Accounting Theory Taxation: Individuals - Property Transactions: Capital Gains and Losses With regard to unrelated business income of an exempt organization, which one of the following statements is true? A B C - D If an exempt organization has any unrelated business income, such organization automatically forfeits its exempt s When an unrelated trade or business activity results in a loss, such activity is excluded from the definition of unrela If an exempt organization derives income from conducting bingo games, in a locality where such activity is legal, an such incohe is exempt from the tax on unrelated business income. Dividends and interest earned by all exempt organizations always are excluded from the definition of unrelated busi Submit Answer Select