Super Corporation gives a painting to a museum for public display on August 6. The painting was purchased on April 3 of the same year for $20,000 and is worth $30,000 at the date of gift. Also, Super accrues a charitable contribution on December 30 and pays the $12,000 contribution on February 1 of the next year. Super Corporation is a calendar-year corporation that uses the accrual method of accounting. Before considering the 10% limitation rule, the maximum deduction for the current year is
A. $32,000.
B. $20,000.
C. $12,000.
D. $30,000.
Answer: A
You might also like to view...
The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities
A) organizational plan B) strategic marketing plan C) corporate tactical plan D) corporate mission E) customer-value statement
Initiators are those who authorize the proposed action of deciders or buyers
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. It is against the law to discriminate against someone based on their looks thus norms of appearance are not enforceable. 2. Folkways and mores can be the basis of an organization’s code of ethics and accepted behaviors. 3. A nation’s cultural beliefs affect company culture when the two are in conflict. For example, the American custom of working through lunch would not be tolerated in Europe. 4. It is much easier to listen to and connect to a story than sit in a formal classroom training on employee culture.
Mall intercept studies are a commonly used type of face-to-face interview
Indicate whether the statement is true or false