Unrelated Business Income Tax is an excise tax, applied to the gross receipts of a business activity. Therefore allocations of expenses incurred in generating the income are irrelevant.
Answer the following statement true (T) or false (F)
False
Unrelated Business Income Tax is income tax that tax-exempt organizations are required to pay on income generated from any trade or business activities unrelated to the entity's tax-exempt purposes. Unrelated business income is taxed at the corporate rate.
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In the context of product classifications, tangibility refers to the ________.
A. value of a product in the market B. service delivered with a product C. ability to create a combination of product and service D. fundamental need met by a product E. physical aspects of a product
If the coefficient of correlation is 1.0, then the coefficient of determination must be 1.0
Indicate whether the statement is true or false
A(n) ________ is the level of expected performance for a given goal; it is a target that establishes a desired performance level, motivates performance, and serves as a benchmark against which actual performance is assessed.
A. audit B. goal C. control process D. objective E. standard
The earned value is
a. the budgeted cost of the work scheduled. b. the sum of the actual costs of the project. c. difference between what was planned and the actual costs. d. the budgeted costs of the work actually performed.