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Question 9 Gifts to charitable organizations that qualify for the 50 percent limitation are considered...

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Accounting

Question 9 Gifts to charitable organizations that qualify for the 50 percent limitation are considered first (before the 30% and 20% contributions) when computing the deduction for charitable contributions. (This assumes that no 60% limitation property has been given during the year).

Question 9 options: 1) True 2) False

Question 10 Casualty losses are deductible in the year the damaged property is repaired or replaced. Question 10 options: 1) True 2) False

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