Which One of the Following Statements Is True for a Regular

question 17

Multiple Choice

Which one of the following statements is true for a regular corporation?

• A)Charitable contributions in excess of the 10 percent limitation may be carried over to subsequent years indefinitely.
• B)A contribution carryover is allowed as a deduction even if it increases a net operating loss.
• C)Charitable contributions in excess of the 10 percent limitation may, subject to limitations, be carried back to each of the preceding three years.
• D)Charitable contributions in excess of the 10 percent limitation may, subject to limitations, be carried over to each of the following five years.
• E)Subject to the 10 percent limitation, a carryover of excess contributions is used before the contributions made in the carryover year.

---

Definitions:

Intercarpal

Relating to the joints between the carpal bones of the wrist, which allow for the complex movements of the hand.

Intercarpal

Relating to the joints and areas between the carpal bones in the wrist.

Metacarpophalangeal Joint

Joints located between the metacarpal bones of the hand and the proximal phalanges of the fingers, allowing for flexion and extension movements.

Radiocarpal Joint

The joint formed between the radius bone of the forearm and the proximal set of carpal bones, allowing for wrist movement.