To which of the following tax-exempt organizations may the UBIT apply? a. Red Cross. b. Salvation Army.
Question:
a. Red Cross.
b. Salvation Army.
c. United Fund.
d. College of William and Mary.
e. Rainbow, Inc., a private foundation.
f. Louisiana State University.
g. Colonial Williamsburg Foundation.
h. Federal Land Bank.
i. University of Virginia Hospital.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
The unrelated business income tax UBIT could apply to the organizations ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
Question Posted:
Students also viewed these Business Law questions
-
Multiple Choice Questions 1. Special agents in the IRS Criminal Investigation Division are not involved in which of the following cases? a. Cases involving legal sources income. Legal sources of...
-
Choose the best answer. 1. Jan and Dean decided to form a charitable organization, I Love Rock N Rollers, to provide funding to assist former rock and roll group members who have become homeless....
-
Select the correct answer for each of the following questions. 1. Which of the following statements concerning the prospectus required by the Securities Act of 1933 is correct? a. The prospectus is a...
-
NIU Company's budgeted sales and direct materials purchases are as follows: NIU's sales are 40% cash and 60% credit. It collects credit sales 10% in the month of sale, 50% in the month following...
-
Wruck Corporation reported cash provided by operating activities of $450,000, cash used by investing activities of $150,000, and cash provided by financing activities of $80,000. In addition, cash...
-
Since participation rate is a key performance indicator (KPI) for a school foodservice, what are some ways you could improve your districts participation rate?
-
Not really anonymous. Some common practices may appear to offer anonymity while actually delivering only confidentiality. Market researchers often use mail surveys that do not ask the respondents...
-
Xellnet provides e- commerce software for the pharmaceuticals industry. Xellnet is orga-nized into several divisions. A companywide planning committee sets general strategy and goals for the company...
-
Q5 After the auditor planned the audit based on the lower assessed level of control risk approach it was found that the tests of contre did not support this approach Although the controls were well...
-
7-B1 Prepare Master Budget Flying Fish Kite Company, a small Woy Woy, Australia, firm that sells kites on the Web, wants a master budget for the 3 months beginning January 1, 20X2. It desires an...
-
An exempt hospital receives as a gift from a wealthy donor all of the shares of stock of Compute, Inc., a retail computer chain. Because the chain is very profitable and its CEO has offered to...
-
Discuss the significance of the "regularly carried on" test as it relates to the UBIT.
-
Prove or give a counterexample: A set S is convex if and only if for each p, q in S, the set of points of the form (1 t)p + tq, where 0 < t < 1, is contained in S.
-
Are investors too impatient in wanting returns from these investments? "Would Nordstrom be better off if it were owned by private investors, rather than as a publicly traded firm since this would...
-
how AI is used to discover new material, will it change the whole science environment?
-
QUESTION 1 Which one of the following statements is not part of the "bundle of rights" enjoyed by a fee simple owner of property? a. The right to possess the property b. The right to control what...
-
In order to pay his rent, Tom, a college student, has taken a job in the computer department of a local department store. His only responsibility is to answer telephone calls to the department, most...
-
How does database normalization impact data integrity and query performance in complex relational schemas ? Explain
-
A sphere rotates about a fixed axis 10.0 times in 10.0 s. What is its angular speed?
-
Comptech Ltd is a manufacturer of optical equipment. In September 2019, Ed Thompson the Chief Research Officer, attended a conference in Switzerland that focused on optical developments for the 21st...
-
Why is it difficult to know whether a document retrieved four months ago is still valid law? Which tool in Checkpoint might help a researcher confirm the current status of a case or ruling?
-
Describe the function of a citator in the tax research process.
-
Distinguish between the following terms: cited case, citing case, citation, and cites.
-
thumbs up if correct A stock paying no dividends is priced at $154. Over the next 3-months you expect the stock torpeither be up 10% or down 10%. The risk-free rate is 1% per annum compounded...
-
Question 17 2 pts Activities between affiliated entities, such as a company and its management, must be disclosed in the financial statements of a corporation as O significant relationships O segment...
-
Marchetti Company, a U.S.-based importer of wines and spirits, placed an order with a French supplier for 1,000 cases of wine at a price of 200 euros per case. The total purchase price is 200,000...
Study smarter with the SolutionInn App