An Expense That Is Deducted in Computing Net Income Per

question 20

True/False

An expense that is deducted in computing net income per books but not deductible in computing taxable income is a subtraction item on Schedule M-1.

---

Definitions:

401(k)

A retirement savings plan sponsored by an employer that allows workers to save and invest a piece of their paycheck before taxes are taken out.

Sigmoidoscopy

A medical examination of the lower part of the colon using a flexible tube with a light and camera at the end.

Lab

Short for laboratory, a controlled setting where scientific experiments, research, and measurement are performed.

Called and Canceled

Refers to an appointment or event that has been officially cancelled by the person who initially scheduled it.