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Which of the following statements regarding the unrelated business income tax is correct? Private foundations are not subject to the unrelated business income tax. All

Which of the following statements regarding the unrelated business income tax is correct?

Private foundations are not subject to the unrelated business income tax.

All activities that are unrelated to the exempt purpose of the organization are automatically subject to UBIT.

If labor is provided by volunteers, the activity is generally subject to UBIT.

If inventory of the organzation is donated, the profits are not subject to UBIT.

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