With Respect to Charitable Contributions by Corporations,all of the Following

question 60

Multiple Choice

With respect to charitable contributions by corporations,all of the following rules apply with the exception of

• A)unused contributions are carried forward 5 years.
• B)the amount of the contribution deduction is always the adjusted basis of the property contributed.
• C)contributions are limited to 10% of taxable income,computed without regard to the charitable contribution deduction,NOL and capital loss carrybacks,or the dividends-received deduction.
• D)accrual-basis corporations may accrue a contribution deduction in the year preceding payment if the board of directors authorizes such payment prior to the end of the tax year,and the payment is actually made within two and one-half months following the end of the tax year.

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Definitions:

Giving Feedback

The act of providing constructive criticism or praise to someone regarding their performance or behavior.

Respond Immediately

Acting or replying without delay.

Different Behaviors

Variations in actions or reactions of individuals or groups in different situations.

Cultures

The growth of microorganisms, cells, or tissues in a specially prepared nutrient environment for study or diagnosis.