Which of the following responses is incorrect with regard to charitable contributions by corporations? A. Both corporations and individuals can generally deduct the fair market value of investments given as charitable contributions. B. Corporations and individuals can never deduct more than the adjusted basis of ordinary income property given to a charitable organization. C. Corporate and individual charitable contributions that exceed the taxable income limit can be carried forward for five years. D. The corporation can elect to deduct accrued contributions if the contributions are actually paid in the first three-and-a-half months following the year-end.

Which of the following responses is incorrect with regard to charitable contributions by corporations? A. Both corporations and individuals can generally deduct the fair market value of investments given as charitable contributions. B. Corporations and individuals can never deduct more than the adjusted basis of ordinary income property given to a charitable organization. C. Corporate and individual charitable contributions that exceed the taxable income limit can be carried forward for five years. D. The corporation can elect to deduct accrued contributions if the contributions are actually paid in the first three-and-a-half months following the year-end.

A.	Both corporations and individuals can generally deduct the fair market value of investments given as charitable contributions.
B.	Corporations and individuals can never deduct more than the adjusted basis of ordinary income property given to a charitable organization.
C.	Corporate and individual charitable contributions that exceed the taxable income limit can be carried forward for five years.
D.	The corporation can elect to deduct accrued contributions if the contributions are actually paid in the first three-and-a-half months following the year-end.