Layla Earned $20,000 of General Business Credits from Her Sole

question 95

Multiple Choice

Layla earned $20,000 of general business credits from her sole proprietorship.Her regular tax liability is $45,000,and her tentative minimum tax is $49,000.During the current year Layla will apply general business credits of

• A)$0.
• B)$4,000.
• C)$20,000.
• D)$45,000.

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Coumadin

A medication brand name for warfarin, used to prevent blood clots by thinning the blood.

Hypoglycemic

A condition characterized by an abnormally low level of glucose in the blood.

Glucophage

A prescription medication primarily used to treat type 2 diabetes by helping to control blood sugar levels, known generically as metformin.

Oral

Pertaining to the mouth.