Corporations Are Not Allowed to Deduct Charitable Contributions in Excess

question 84

True/False

Corporations are not allowed to deduct charitable contributions in excess of 10percent of the corporation's taxable income (before the charitable contribution and certain other deductions).

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Definitions:

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Lactase Production

The process of synthesizing lactase, an enzyme that breaks down lactose into glucose and galactose, primarily in the small intestine.

E. Coli

Escherichia coli (E. coli) is a type of bacteria that lives in the intestines of humans and animals; certain strains can cause food poisoning.

Strains

Variants or subtypes of microorganisms, plants, or animals that are genetically distinct.