Which of the following is a not true statement about, Ask an Expert

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Which of the following is a not true statement about tax-exempt organizations?

A. they must be organized to serve the charitable needs of the public at large.

B. they must first become a not-for-profit corporation or charitable trust.

C. they are permitted to do some political lobbying if guidelines are met.

D. their unrelated business income is taxed at corporate income tax rates.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9431988

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