In 2012, Roseann Makes the Following Donations to Qualified Charitable

question 97

Multiple Choice

In 2012, Roseann makes the following donations to qualified charitable organizations: The ABC stock and the inventory were given to Roseann's church, and the comic book collection was given to the United Way. Both donees promptly sold the property for the stated fair market value. Disregarding percentage limitations, Roseann's charitable contribution deduction for 2012 is:

• A)$14,000.
• B)$25,600.
• C)$26,000.
• D)$33,600.
• E)None of the above.

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Definitions:

Compound Leverage Ratio

A measure that assesses the impact of financial leverage on a company's potential returns, taking into account both debt and equity levels.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period of time, revealing profit or loss.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, showing the company's financial position.

Market-To-Book Ratio

A financial valuation metric used to compare a company's current market value to its book value.