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At the end of 2007, Carroll Corporation, a calendar year, accrual basis C corporation, wanted to make a contribution to a qualified U.S. charity. Carroll is hesitant to go forward because it has not yet determined the taxable income for 2007 and cash-flow needs for early 2008. How could this dilemma be resolved? Explain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9981196

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