If a Corporation's Cash Charitable Contributions Exceed the Charitable Contribution

question 28

Multiple Choice

If a corporation's cash charitable contributions exceed the charitable contribution deduction limit, what kind of book-tax difference is created for that year?

• A)Permanent; favorable.
• B)Permanent; unfavorable.
• C)Temporary; favorable.
• D)Temporary; unfavorable.

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Definitions:

Cultural Pluralism

A situation in which smaller groups within a larger society maintain their unique cultural identities, and their values and practices are accepted by the wider culture provided they are consistent with the laws and values of the wider society.

Jewish Faith

The religious beliefs and practices associated with Judaism, a monotheistic religion of the Jewish people based on the Torah.

Ethnic Enclave

Focused areas of homogeneous ethnic groups, usually coupled with some business and institutional activity.

Cultural Shock

The feeling of disorientation and discomfort that comes from encountering an unfamiliar culture or way of life.