Which of the Following Are Exempt Organizations to Which Contributions

question 10

Multiple Choice

Which of the following are exempt organizations to which contributions made are eligible for the charitable contribution deduction?

• A)National Basketball Association (NBA).
• B)Red Cross.
• C)American Institute of CPAs (AICPA).
• D)Only b.and c.
• E)a., b., and c.

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Definitions:

Child Support Payments

Financial contributions made by a non-custodial parent to assist in the upbringing of their children.

Chapter 13 Bankruptcy

A type of bankruptcy that involves a repayment plan of three to five years, as governed by U.S. bankruptcy law.

Regular Incomes

Consistent earnings generated typically on a daily, weekly, or monthly basis, often from employment or investments.

Adjustment of Debts

A legal process or agreement designed to modify the terms or conditions of debt, often to extend the repayment period or reduce the amount of the installments.