If a Corporation's Charitable Contributions Exceed the Deduction Limitation in a Particular

question 107

Multiple Choice

If a corporation's charitable contributions exceed the deduction limitation in a particular year,the excess

• A)is not deductible in any future year.
• B)becomes a carryforward to a maximum of five succeeding years.
• C)may be carried back to the third preceding year.
• D)is carried over indefinitely.

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Definitions:

Positive Attitude

A mental state involving optimistic and constructive thoughts and feelings towards life and its challenges.

Self-Esteem

One's subjective evaluation of their own worth, capabilities, and significance.

Personal Control

The degree to which an individual believes they can influence or direct events affecting their life.

Organization Citizenship Behavior

Voluntary behaviors exhibited by employees that contribute to the overall positive functioning and atmosphere of the organization, beyond their required duties.