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A Corporation Has Revenue of $350,000 and Deductible Business Expenses

question 82

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A corporation has revenue of $350,000 and deductible business expenses of $240,000.What is the federal income tax,before credits?


Definitions:

Genetics

The study of heredity and the variation of inherited characteristics.

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The process of interpreting and understanding symbols, letters, and words in a written or printed material.

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A rare and severe mental disorder in children characterized by hallucinations, delusions, and disordered thinking and behavior.

Autism Spectrum Disorder

A range of neurodevelopmental conditions characterized by challenges with social skills, repetitive behaviors, and communication, both verbal and non-verbal.

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