Indie Corporation Purchases a Building for Use in Its Business

question 16

Multiple Choice

Indie Corporation purchases a building for use in its business at a cost of $100,000.The building was built in 1900 and is a certified historic structure.Indie spends $150,000 on qualifying renovations certified as consistent with the buildings character.Indie will earn a rehabilitation (historic) tax credit of

• A)$15,000.
• B)$30,000.
• C)$25,000.
• D)$50,000.

---

Definitions:

Narcotic

A class of drugs that reduce pain, alter mood and behavior, and usually have the potential for dependence and abuse.

Prescription

A written order from a qualified healthcare professional allowing a patient to be issued with medicine or treatment.

Joint Commission

An independent, not-for-profit organization that accredits and certifies healthcare organizations and programs in the United States to ensure compliance with specific standards.

Prescription

An order written by a medical practitioner authorizing a patient to be provided a medicine or treatment.