Not-for-Profit Organizations

Descrição

Chapter 14
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Quiz por turquoise_cat, atualizado more than 1 year ago
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Criado por turquoise_cat aproximadamente 10 anos atrás
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Resumo de Recurso

Questão 1

Questão
The term that means information skewed toward a particular belief with a tendency to have little or no factual basis is
Responda
  • Political influence.
  • Legislation.
  • Propaganda.
  • Lobbying.

Questão 2

Questão
The income most likely to be considered unrelated business income of a human service organization that provides immunizations to children in the community is
Responda
  • 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.

Questão 3

Questão
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
Responda
  • 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.

Questão 4

Questão
Which of the following is a reason why an NPO might fail to qualify for tax-exempt status?
Responda
  • 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.

Questão 5

Questão
Which of the following not-for-profit organizations is most likely to be tax-exempt under IRC Sec. 501(c)(3)?
Responda
  • Beta Kappa Alpha Sorority.
  • Peaceful Dreams Cemetery Association.
  • Regional Association of Tree Trimmers.
  • Survivors of Breast Cancer Club.

Questão 6

Questão
Which of the following is a not a true statement about tax-exempt organizations?
Responda
  • 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.

Questão 7

Questão
All of the following are examples of acts or policies that are uniform across the United Stated for not-for-profit organizations except
Responda
  • Uniform Prudent Management of Investment Funds Act of 2006.
  • Model Charitable Solicitation Act.
  • Uniform Executive Compensation Act.
  • Volunteer Protection Act of 1997.

Questão 8

Questão
All of the following are reasons why the Internal Revenue Service (IRS) overhauled the Form 990 for tax years beginning in 2008 except
Responda
  • 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.

Questão 9

Questão
A good measure of whether a not-for-profit organization is "liquid" and can meet its short-term obligations is
Responda
  • 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.

Questão 10

Questão
A good measure of whether a not-for-profit organization is a "going concern" and can sustain its operations into the future is
Responda
  • 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.

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