Duo Partnership Reports the Following Items for the Year In Addition to Reporting Separately Stated Items on the Form

question 45

Multiple Choice

Duo Partnership reports the following items for the year: $$\begin{array} { | l | r | } \hline \text { Sales } & \$ 750,000 \\\hline \text { Wage expense } & 300,000 \\\hline \text { Rent expense } & 50,000 \\\hline \text { Charitable contributions } & 10,00 \\\hline \text { Short-term capital gain } & 20,000 \\\hline \text { Sec. } 179 \text { expense } & 100,00 \\\hline\end{array}$$ In addition to reporting separately stated items on the Form 1065,Duo will report ordinary income of

• A)$400,000.
• B)$300,000.
• C)$420,000.
• D)$310,000.

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Definitions:

Deseasonalizing

The process of removing the seasonal components of data to analyze and forecast trends more accurately.

Regression Analysis

is a statistical method for investigating and modeling the relationship between variables.

Dependent Variable

The factor in a model or experiment predicted to vary as a result of modifications in the independent variables.

Seasonal Index

A measure that quantifies the predictable fluctuation in activity or values according to the season or time of the year.