Heron Corporation,a Calendar Year C Corporation,had an Excess Charitable Contribution

question 27

True/False

Heron Corporation,a calendar year C corporation,had an excess charitable contribution for 2014 of $5,000.In 2015,Heron made a further charitable contribution of $20,000.Heron's 2015 deduction is limited to $15,000 (10% of taxable income).The 2015 contribution must be applied first against the $15,000 limitation.

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Definitions:

APA Ethics Code

A set of guidelines developed by the American Psychological Association to ensure ethical conduct in psychological research and practice.

Integrity

The quality of being honest and having strong moral principles; moral uprightness.

Beneficence

A principle in ethics that refers to the act of doing good or providing benefits to others.

Confidentiality

The ethical and often legal duty to protect personal information from unauthorized disclosure.