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kati45 [8]
3 years ago
12

Which of the following statements is correct in connection with the investigation of a business? a.Regardless of whether the tax

payer is already engaged in the trade or business, the expenses must be capitalized and amortized. b.If the taxpayer is not already engaged in the trade or business, the expenses incurred are deductible if the project is abandoned. c.That business must be related to the taxpayer's present business for any expense ever to be deductible. d.Expenses may be deducted immediately by a taxpayer engaged in a similar trade or business regardless of whether the business being investigated is acquired. e.None of these choices are correct.
Business
1 answer:
jekas [21]3 years ago
7 0

Answer:

c. That business must be related to the taxpayer's present business for any expense ever to be deductible.

Explanation:

If the business is acquired, the expenses may be deducted immediately by a taxpayer engaged in a similar trade or business. The expenses may be deducted regardless of whether the business being investigated is acquired.

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What is a good sport or activity to do in high school that looks good on your college application?
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football,volleyball,tennis, basketball or

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3 years ago
"Redfox Pest Control Service had revenues of $425,000 and expenses of $338,000 for the current year, ended June 30. At the begin
andrew-mc [135]

Answer: The options are given below:

A. $292,000

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The answer is D. $275,250

Explanation:

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Retained Earnings = 70,000 + 87,000 = $157000

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Consider the circular flow model to answer the questions that follow.
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Answer:

The answer is :

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B. Expenditure - product market.

Explanation:

A. Resource market - income

B. Expenditure - product market

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A.

In circular flow of income, households provide inputs to firms through the resource market(matket where households supply land, labor, capital, and entrepreneurship) in exchange for money(income or wages).

B.

Also in circular flow of income, firms receives expenditure from household and this type of market is called product market(which refers to a place where goods and services are bought and sold)

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