Kelsey Enjoys Making Cupcakes as a Hobby and Occasionally Sells

question 5

Multiple Choice

Kelsey enjoys making cupcakes as a hobby and occasionally sells them for parties.Kelsey receives $1,000 in revenues from cupcake sales this year and pays $1,300 for supplies.Kelsey takes the standard deduction each year.The net effect of the cupcake activity on Kelsey's taxable income is

• A)$0.
• B)an increase of $1,000.
• C)a decrease of $300.
• D)a decrease of $280.

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Definitions:

Prospect's Firm

Refers to the specific company or business entity that is considered a potential customer or client in a sales or marketing context.

CRM Technology

Short for Customer Relationship Management technology, it refers to software solutions designed to help businesses manage and analyze customer interactions and data throughout the customer lifecycle.

Lead Generation

Establishing a group of firms and individuals that may be in the target market for a seller’s product or service.

Contact Management

The process of storing, organizing, and managing information about people and companies with whom you have business relationships.