A necessary trade or biisiness expenditure is one which is: a. Reasonable inamount b. Commonly incurred by
Question:
A necessary trade or biisiness expenditure is one which is:
a. Reasonable in‘amount
b. Commonly incurred by other businesses
c. Appropriate for a particular business
d. Not a capital expenditure
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
A necessary trade or business expenditure is one that is a Reasonable in amount The amount spent on ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
Question Posted:
Students also viewed these Business questions
-
An ordinary trade or business expenditure is one which is: a. Reasonable in amount b, Commonly incurred by other businesses c. Appropriate for a particular business d. Not a capital expenditure
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
-
solve system of equation: 22-4=4 81+y = -9 @solve the system of equation: x-Y = -5 xy = -3 find larger and smuller value and intersection point. 3) Solve following system of equation 2 x+y=0- 2 x -...
-
On November 24, 2014, 26 passengers on Windsor Airlines Flight No. 901 were injured upon landing when the plane skidded off the runway. Personal injury suits for damages totaling $9,000,000 were...
-
Prepare journal entries to record the following August 2023 transactions of a new business called For the Love of Pixels. Aug. 1 Joseph Eagle, the owner, invested $20,000 cash and photography...
-
State the null and alternative hypotheses \(\left(\mathrm{H}_{0} ight.\) and \(\left.\mathrm{H}_{1} ight)\) for each of the following research questions: a. Are the average starting salaries for...
-
Anderson Trade Mart has recently had lackluster sales. The rate of inventory turnover has dropped, and the merchandise is gathering dust. At the same time, competition has forced Andersons suppliers...
-
A clothing retailer is interested in the average waist size of men. A sample is taken with the results given below. Column1 Mean 41.74 What is the sample statistic? Ex 1.230 Standard Error 1.406...
-
John Stantus, single, is the sole owner of Stantus Accounting Services, Co. He started the company, which is organized as a sole proprietorship, on February 10 of the current year. For this year,...
-
For an individual taxpayer, expenses connected with rents and royalties are normally deducted: a. For AGI b. From AGI c. Either for or from AGI d. For AGI but limited to a maximum percentage amount
-
Presented below is financial information related to the 2019 operations of Louisa Cruise Company. Maintenance and repairs expense.............$ 92,000 Utilities...
-
Write a Java program that calculates the factorial of a given number using a recursive function. Ensure your program takes user input for the number and outputs its factorial.
-
Demonstrate the potential benefits and problems for a corporation and a potential investor in trading the securities in the over-the-counter (OTC) market? Requirements Min 200 words 0% plagiarism rule
-
How does over-the-counter (OTC) trading differ from trading on an organized exchange?
-
1.4 The top 40 stocks on the over-the-counter (OTC) market, ranked by percentage of outstanding shares traded on one day last year are as follows: 11.88 6.27 5.49 4.81 4.40 3.78 3.44 3.11 2.88 2.68...
-
Discuss the effectiveness of the major OTC weight loss products.?
-
Why are differing national accounting standards converging to a common global standard?
-
After graduating from college and working a few years at a small technology firm. Preet scored a high-level job in the logistics department at Amex Corporation. Amex sells high-quality electronic...
-
If a firm offers one of its brands in a number of different countries, would it make sense for one brand manager to be in charge, or would each country require its own brand manager? Explain your...
-
What are the major advantages of total quality management as an approach for improving the quality of goods and services? What limitations can you think of?
-
AgriChem, Inc., has introduced an innovative new producta combination fertilizer, weed killer, and insecticide that makes it much easier for soybean farmers to produce a profitable crop. The product...
-
Hey there I need some help please paraphrase this content in your own words thank you. With todays ever-changing, stressful environment individual job satisfaction is critical to the success of any...
-
Imagine that you are a researcher who is interested in whether average job satisfaction differs among people who are short, average, or tall in height. You measure average job satisfaction, which is...
-
Explain attribution theory in detail. Q2. Define job satisfaction. Elaborate the outcomes of job satisfaction and shed some light on managerial implications with respect to job satisfaction.?
Study smarter with the SolutionInn App