Question
Question 199 Nelson makes a cash contribution of $1,000 to Charity X, a qualified organization. In return for his payment, he receives a state tax
Question 199
Nelson makes a cash contribution of $1,000 to Charity X, a qualified organization. In return for his payment, he receives a state tax credit of 70% of his $1,000 contribution. The result is Nelsons charitable contribution deduction to Charity X cannot exceed what amount?
A. $100 B. $300 C. $700 D. $1,000
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
