Trail Corporation Has Gross Profits on Sales of $140,000 and Deductible

question 103

Multiple Choice

Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is

• A) $60,000.
• B) $20,000.
• C) a $20,000 loss.
• D) a $40,000 loss.

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Definitions:

Family Involvement

The participation and engagement of family members in activities and decisions that affect the well-being and development of the family unit.

Family Demographics

Statistical data relating to the characteristics of families within a population, such as size, structure, and socioeconomic status.

Educators

Individuals such as teachers, professors, and trainers who are responsible for teaching and facilitating learning for students at various levels.

Parental Divorce

The legal dissolution of a marriage by a court or other competent body, which results in the separation of the parents.