If a Corporation's Cash Charitable Contributions Exceed the Charitable Contribution

question 28

Multiple Choice

If a corporation's cash charitable contributions exceed the charitable contribution deduction limit, what kind of book-tax difference is created for that year?

• A)Permanent; favorable.
• B)Permanent; unfavorable.
• C)Temporary; favorable.
• D)Temporary; unfavorable.

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Definitions:

Greenhouse Gas Emissions

The release of gases into the Earth's atmosphere that trap heat, contributing to global warming and climate change.

Carbon Emissions

The release of carbon dioxide (CO2) and other greenhouse gases into the atmosphere, often associated with human activities such as burning fossil fuels.

Responsible Investment

An approach to investing that seeks to incorporate environmental, social, and governance (ESG) factors into investment decisions, aiming to generate sustainable, long-term returns.