In November 2021, Poplar Inc.'s board of directors approved a charitable cash contribution to Sweetgum,...
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Accounting
In November 2021, Poplar Inc.'s board of directors approved a charitable cash contribution to Sweetgum, a qualified nonprofit organization. Poplar made the payment to Sweetgum in June 2022. Poplar (a calendar year end corporation) may claim a deduction for the charitable contribution on its 2021 tax return.
A. True
B. False
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