Which of the Following Charitable Contributions Is Not Tax Deductible

question 92

Multiple Choice

Which of the following charitable contributions is not tax deductible?

• A)Cash donated to a qualified church.
• B)Clothing donated to a qualified veterans' organization.
• C)Time donated to a qualified veterans' organization.
• D)Donation of a car to a qualified nonprofit organization.
• E)All of the above are tax deductible.

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Definitions:

Interest Rate

The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.

Risk Averse

A descriptor for individuals or entities that prefer to minimize exposure to risk and avoid uncertain outcomes.

Risk and Return

The principle that potential return on investment rises with an increase in risk. Higher risk is associated with the greater probability of higher return and vice versa.

Moral Hazard

The tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behavior.