An individual can generally receive a tax deduction for contributions to which type of not-for-profit organization?

A. 501(c)(1) organization.
B. 501(c)(3) organization.
C. Any not-for-profit organization granted tax exemption by the IRS.
D. 527 organization.


Answer: B

Business

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Cost behavior is the way prices are adjusted due to changes in costs

Indicate whether the statement is true or false

Business

An example of an inventory accounting policy that should be disclosed is the

a. effect of inventory profits caused by inflation. b. classification of inventory into raw materials, work in process, and finished goods. c. identification of major suppliers. d. method used for inventory costing.

Business

A presentment is a demand for the acceptance of a dishonored instrument

Indicate whether the statement is true or false

Business

When the U.S. government determined the prices of solar panels imported from China were artificially low due to illegal subsidies, it imposed a ________ to help domestic firms compete.

A. quota B. countertrade exchange C. currency exchange rate D. tariff E. comparative inflation rate

Business