Which of the following may be deducted in computing income from unrelated business activities?
A. Charitable contributions.
B. $1,000 special deduction.
C. Ordinary and necessary business expenses.
D. All of the above.
Answer: D
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Use the cost information below for Sundar Company to determine the total manufacturing costs added during the current year: Direct materials used$19,000 Direct labor used 24,500 Factory overhead 55,100 Beginning work in process inventory 10,700 Ending work in process inventory 11,300
A. $79,000. B. $42,900. C. $98,600. D. $43,500. E. $98,000.
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Indicate whether the statement is true or false