Accounting for Governmental and Nonprofit Entities 15th Edition by Earl Wilson,Jacqueline Reck,Susan Kattelus

Exercise 3

Using Illustration 15-3 as a guide, indicate under which Internal Revenue Code section each of the following public charities is most likely to be exempt from federal income tax.
a.Ottowa County Credit Union.
b.Midwest Rheumatoid Arthritis Association.
c.Peaceful Place Cemetery.
d.Blacksberry Civic League.
e.Delta Gamma Epsilon sorority.
f.Landscapers Professional Association.