The fines for speeding were a necessary cost because missing deadlines would cause lost business and are ordinary in the industry. What is the total amount of deductible expenses?
Jimmy owns a trucking business. During the current year he incurred the following:
A) $115,000
B) $123,000
C) $108,000
D) $144,000
A) $115,000
Bribes and fines are not deductible. The gasoline and maintenance costs are allowed. $100,000 + $15,000 = $115,000.
You might also like to view...
Floors, Inc offers terms of 2/10, n/30 to credit customers. Tile Magic Corp purchased 100 tile cutters with a list price of $20 each on August 5, 2016, on account. Tile Magic Corp paid the invoice on August 31, 2016 . How much sales discount will Floors recognize?
a. $ 40 b. $ -0- c. $ 200 d. $ 236
Which of the following is commonly used to create a security interest in real property to secure a
loan? A) Deed of trust B) Mortgage C) Both a deed of trust and a mortgage D) Neither a deed of trust nor a mortgage
The early start for a non-critical activity is always equal to the earliest finish of the preceding activity
Indicate whether this statement is true or false.
The money that property owners invest and spend on improvements is called a ____________________
Fill in the blank(s) with correct word