True/False
On April 8,2008,Oriole Corporation donated a painting worth $150,000 to the Texas Art Museum,a qualified public charity.The museum included the painting in its permanent collection.Oriole Corporation purchased the painting 5 years ago for $75,000.Oriole's charitable contribution deduction is $150,000 (ignoring the taxable income limitation).
Correct Answer:
Verified
Correct Answer:
Verified
Q63: Bass Corporation received a dividend of $80,000
Q64: Hippo,Inc.,a calendar year C corporation,manufactures golf gloves.For
Q65: Heron Corporation,a calendar year,accrual basis taxpayer,provides the
Q66: Bear Corporation has net short-term capital gains
Q67: Cecelia is the sole shareholder of Aqua
Q69: During the year,Platinum Corporation (a calendar year
Q71: For a corporation,the domestic production activities deduction
Q72: Maize Corporation had $100,000 operating income and
Q90: C corporations can elect fiscal years that
Q100: Nicole owns and operates a sole proprietorship.She