Identify Which of the Following Statements Is True

question 37

Multiple Choice

Identify which of the following statements is true.

• A)"Ordinary income property" with regard to the charitable contribution deduction does not include property whose sale would have produced a short-term capital gain.
• B)The Twilight Corporation purchases inventory for $5,000. Its FMV on the date it is donated to the Blue-Gray Hospital for the care of the needy is $13,000. The maximum charitable contribution deduction available for the donation is $9,000.
• C)Corporations' charitable deductions are limited to 20% of their adjusted taxable income.
• D)All of the above are false.

---

Definitions:

Just-In-Time Purchasing

An inventory management strategy where materials are ordered and received just as they are needed in the production process, minimizing stock levels.

Electronic Data Interchange (EDI)

A system for exchanging business documents in a standardized electronic format between organizations.

Minimal Inspection

A quality control strategy where only a minimal or limited amount of inspection is carried out to ensure product quality.

Lead Time

The amount of time that passes between the commencement of a process and its completion, often used in the context of production and supply chain management.