Which of the Following Statements Regarding Charitable Contributions Is False

question 122

Multiple Choice

Which of the following statements regarding charitable contributions is false?

• A) Corporations can qualify to deduct a contribution before actually paying the contribution to the charity.
• B) Charitable contribution deductions are subject to a limitation based on the corporation's taxable income (before certain deductions).
• C) The amount deductible for non-cash contributions is always the adjusted basis of the property donated.
• D) Only contributions made to qualified charitable organizations are deductible.

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Definitions:

Limbic System

A complex system of nerves and networks in the brain, involved with instinct and mood control; it also plays a key role in emotions and memories.

Basal Ganglia

Groups of nuclei in the brain involved in coordinating movement as well as learning and behaviors that are associated with a reward.

Temporal Lobe

A region of the cerebral cortex responsible for processing auditory information and encoding memory.

Menarche

A girl’s first menstrual period, signaling that she has begun ovulation. Pregnancy is biologically possible, but ovulation and menstruation are often irregular for years after menarche.