Ch 12 Giving

You can be remembered for positive or negative attributes.

• True

• False

An organization set up to provide help and raise money for those in need

• Business organization

• Charitable organization

Which of the following is not one of the Five Foundations?

• Pay cash for your car

• Build your credit

• Build wealth and give

• • Save a $500 emergency fund

What percentage of American households give to charity?

• 65%

• 5%

• 20%

• 100%

Which of the following statements is false?

• A gift to a qualified charitable organization may entitle you to a tax deduction.

• You should document your charitable contributions for tax purposes.

• All charitable organizations qualify for a charitable contribution deduction.

• A contribution to a qualified charity is deductible in the year in which it is paid.

John D. Rockefeller was a businessman in the early 1900s who is remembered only for his wealth.

• True

• False

When donating non-cash items to a charity, which of the following is not recommended?

• Donating the items locally

• Considering selling the items and donating cash instead

• Donating the items to non-local charities

• Determining whether or not the items you wish to donate are useful

To give money, food or other help to a country or organization that needs it

• Aid

• Voluntary

You have to wait until you have a large income before you can help others.

• True

• False

Money is not the only way to give.

• True

• False