For 2019, Accrual-Method Corporations Cannot Deduct Charitable Contributions Until They

question 33

True/False

For 2019, accrual-method corporations cannot deduct charitable contributions until they actually make payment to the charity.

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Definitions:

Internal Audit

A department within an organization tasked with evaluating and improving the effectiveness of risk management, control, and governance processes.

Approved Vendor List

A list of suppliers that a company has vetted and approved for purchasing specific goods or services.

Bona Fide Claim

A claim that is made in good faith without deception or fraud.

Discreetly

Acting in a careful or prudent manner, often to avoid drawing attention or revealing confidential information.