Question: Based upon the following facts, determine a persons potential understatement of income: Schedule C Expenses $245,000 Personal Living Expenses $ 65,000 Schedule C Receipts $280,000

Based upon the following facts, determine a persons potential understatement of income:

Schedule C Expenses $245,000

Personal Living Expenses $ 65,000

Schedule C Receipts $280,000

Group of answer choices:

$30,000

An overstatment

$65,000

$280,000

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