NACVA CVA Exam - Topic 3 Question 5 Discussion

Actual exam question for NACVA's CVA exam

Question #: 5
Topic #: 3

[All CVA Questions]

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

A$300

B$400

C$350

D$250

Show Suggested Answer

Suggested Answer: D

by Caprice at May 07, 2022, 05:57 PM

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Izetta

4 months ago

Sounds like a hassle, but I guess it's necessary.

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Broderick

5 months ago

Wait, really? I didn't know it was that low!

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Aliza

5 months ago

I thought it was $300, but I guess I was wrong.

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Brendan

5 months ago

Totally agree, it's important to keep track of those donations!

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Jacqueline

5 months ago

It's $250 or more for the written acknowledgment.

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Heike

5 months ago

I’m leaning towards $400, but I feel like that might be too high. I need to recall the specifics from the study materials.

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Carey

5 months ago

I practiced a similar question, and I believe it was $300. But now I’m second-guessing myself.

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Lynna

5 months ago

I think the threshold is $250, but I’m not entirely sure. I remember something about needing a receipt for larger donations.

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Tashia

5 months ago

I remember $250 being mentioned a lot in our discussions about charitable contributions. That seems like the safest bet.

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Sheldon

5 months ago

This is a tricky one. I know the COBIT 2019 framework covers a lot of ground, so I'll need to make sure I understand the specific details of the governance system design workflow. I might need to review my notes to refresh my memory on this.

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Reita

5 months ago

Hmm, I'm a bit unsure about this one. I know there are different levels of backup, but I can't quite remember the specific options. I'll have to think this through carefully.

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Trina

5 months ago

I'm pretty confident on this one. Non-financial measures like customer satisfaction and employee engagement can give you a more holistic picture of how the organization is doing, which is a big advantage over just looking at the financials.

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Krystina

5 months ago

I'm pretty confident the answer is A. The VI Properties Documentation window is where you enter the description that will appear in the Show Context Help popup. I remember covering this in class, so I feel good about selecting that option.

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