Greg, a Self-Employed Plumber, Commutes from His Home to His

question 44

Multiple Choice

Greg, a self-employed plumber, commutes from his home to his office which is 10 miles away. He loads his truck for the day with the parts that he needs. Then he is off to see his first customer of the day, Mr. Smith. Mr. Smith is 5 miles away from the office. After Mr. Smith's job, Greg goes to his next plumbing client, Martin's Dry Cleaning, which is 21 miles away from Mr. Smith. Greg spends the rest of the day at Martin's Dry Cleaning. From Martin's Dry Cleaning, Greg goes home which is now only 7 miles away. How much can Greg count as deductible transportation miles? ​

• A)None of it
• B)21 miles
• C)26 miles
• D)43 miles

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Definitions:

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, without changing the shareholders' equity.

Stock Dividend

A distribution of extra shares to shareholders instead of a financial dividend.

Cash Dividend

A portion of a company's earnings distributed to shareholders in cash.

Credit Balance

A situation in an account where the sum of credits exceeds the sum of debits, indicating the company owes money.