Safina, a single taxpayer with adjusted gross income of $100,000, works as an engineer for the Wabash Corporation. The corporation reimburses all its employees 80% of tuition, fees and books for courses taken at the local university. Safina incurs $8,000 of expenses and can deduct the remaining 20% of the education expense
I. Only if the course improves her skills as an engineer.
II. Is not a
deduction for adjusted gross income.
a. Only statement I is correct.
b. Only statement II is correct.
c. Both statements are correct.
d. Neither statement is correct.
c
You might also like to view...
Briefly describe each of the traditional sectors in the economy.
What will be an ideal response?
______ leadership behaviors include establishing an agenda, giving and soliciting information and opinions, offering internal summaries that describe the group’s progress, helping to keep the group on track, and helping the group to analyze and evaluate issues and reach a consensus.
a. Task b. Maintenance c. Communication d. Designated
Bundle pricing may be perceived to be of value by customers because
A. they always pay a lower price per item than they would have if they bought each item separately. B. they prefer buying a combination of bundled products in a single transaction, which saves time, effort, and perhaps money. C. the companies selling the products can sell them at a lower price because their costs of packaging are lower. D. they are purchasing complementary products, which is convenient for them. E. they can purchase items that are consumed frequently in larger quantities.
Sellers allow customers to use credit cards for all of the following reasons except:
A. To increase total sales volume. B. To speed up receipt of cash from the credit sale. C. To be able to charge more due to fees and interest. D. To lessen the risk of extending credit to customers who cannot pay. E. To avoid having to evaluate a customer's credit standing for each sale.