811978
Description
Quiz by turquoise_cat, updated more than 1 year ago
|
Created by turquoise_cat
over 10 years ago
|
|
Question 1
Question
The term that means information skewed toward a particular belief with a tendency to have little or no factual basis is
Answer
-
Political influence.
-
Legislation.
-
Propaganda.
-
Lobbying.
Question 2
Question
The income most likely to be considered unrelated business income of a human service organization that provides immunizations to children in the community is
Answer
-
Rental of extra space in the building.
-
Regular sale of sweatshirts with the organization's logo on it at a price considerably above cost.
-
Interest and dividend income on investments.
-
Gain on the sale of equipment no longer needed by the organization.
Question 3
Question
The Internal Revenue Service may impose intermediate sanctions on all of the following transactions between a not-for-profit organization and its executive officer except
Answer
-
Excessive compensation.
-
More than the fair rental value for property owned by the officer.
-
A bargain on the sale of assets.
-
Fringe benefits comparable to those given to all employees.
Question 4
Question
Which of the following is a reason why an NPO might fail to qualify for tax-exempt status?
Answer
-
It is operated primarily for the benefit of its members.
-
Its officers are paid excessive wages.
-
Its primary purpose is to promote the passage of legislation favorable to institutions of higher education.
-
It has unrelated business income.
Question 5
Question
Which of the following not-for-profit organizations is most likely to be tax-exempt under IRC Sec. 501(c)(3)?
Answer
-
Beta Kappa Alpha Sorority.
-
Peaceful Dreams Cemetery Association.
-
Regional Association of Tree Trimmers.
-
Survivors of Breast Cancer Club.
Question 6
Question
Which of the following is a not a true statement about tax-exempt organizations?
Answer
-
They must be organized to serve the charitable needs of the public at large.
-
They must first become a not-for-profit corporation or charitable trust.
-
They are permitted to do some political lobbying if guidelines are met.
-
Their unrelated business income is taxed at corporate income tax rates.
Question 7
Question
All of the following are examples of acts or policies that are uniform across the United Stated for not-for-profit organizations except
Answer
-
Uniform Prudent Management of Investment Funds Act of 2006.
-
Model Charitable Solicitation Act.
-
Uniform Executive Compensation Act.
-
Volunteer Protection Act of 1997.
Question 8
Question
All of the following are reasons why the Internal Revenue Service (IRS) overhauled the Form 990 for tax years beginning in 2008 except
Answer
-
To minimize the burden of filing on tax-exempt organizations.
-
To shorten the time it takes to complete a return for large not-for-profit organizations.
-
To enhance transparency about the organization.
-
To allow the IRS to efficiently assess noncompliance.
Question 9
Question
A good measure of whether a not-for-profit organization is "liquid" and can meet its short-term obligations is
Answer
-
Percentage of total expenses spent on the program function as opposed to support function.
-
Total revenues divided by total expenses.
-
Current assets divided by current liabilities.
-
Percentage of unrestricted net assets to operating expenses.
Question 10
Question
A good measure of whether a not-for-profit organization is a "going concern" and can sustain its operations into the future is
Answer
-
Total revenues divided by assets.
-
Percentage of unrestricted net assets to operating expenses.
-
Percentage of total expenses spent on the program function as opposed to support function.
-
Public support divided by total fund-raising expenses.
Want to create your own Quizzes for free with GoConqr? Learn more.