Jimmy Owns a Trucking Business The Fines for Speeding Were a Necessary Cost Because Missing

question 83

Multiple Choice

Jimmy owns a trucking business.During the current year he incurred the following: $$\begin{array} { | l | r | } \hline \text { Gasoline and oil } & \$ 100,000 \\\hline \text { Maintenance } & \$ 15,000 \\\hline \text { Fines for speeding } & \$ 8,000 \\\hline \text { Bribes to government inspection officials } & \$ 21,000 \\\hline\end{array}$$ The fines for speeding were a necessary cost because missing deadlines would cause lost business and are ordinary in the industry.What is the total amount of deductible expenses?

• A)$115,000
• B)$123,000
• C)$108,000
• D)$144,000

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Definitions:

Fuel Source

A material that is consumed to produce energy, such as coal, oil, natural gas, or renewables like solar and wind.

Energy Form

Different manifestations of energy, such as kinetic energy, potential energy, thermal energy, electrical energy, chemical energy, and nuclear energy.

Mass-Energy Transfer

The concept that mass and energy are interchangeable, underpinning the principle of mass-energy equivalence.

Thermal Equilibrium

A state in which all parts of a system are at the same temperature, resulting in no net flow of thermal energy.