In general, taxpayers are allowed to deduct the fair market value of long-term capital gain property on the date of the donation to a qualified charitable organization.
Answer the following statement true (T) or false (F)
True
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A company has $8,000 in cash, $9,250 in accounts receivable, and $19,500 in inventory. If current liabilities are $14,350, then the quick ratio would be
a. 5.0 to 1 b. 2.6 to 1 c. 2.0 to 1 d. 1.2 to 1
Firms have some choice as to when they disburse cash. Delaying payments to suppliers and others during the last several days of an accounting period conserves cash and thereby _____ cash flow from operations for that period, and _____ cash flow from operations during the second period
a. increases; decreases b. increases; increases c. decreases; ; increases d. decreases; decreases e. increases; has no effect
The first stage in the problem definition process is examination of secondary data sources
Indicate whether the statement is true or false
Which of the following is an advantage of the corporate form of business?
A) less degree of government regulation B) limited liability of stockholders C) separation of ownership and management D) low start-up costs