In Its First Taxable Year,Platform,Inc

question 43

Multiple Choice

In its first taxable year,Platform,Inc.generated a $100,000 net operating loss and made a $10,000 cash donation to a local charity.In its second year,Platform generated $350,000 operating income and made a $20,000 donation to the same charity.Compute Platform's taxable income for its second year.

• A)$220,000
• B)$235,000
• C)$320,000
• D)$230,000

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Definitions:

Marital Rape

The act of sexual assault perpetrated by one spouse against the other, recognized as a crime in many jurisdictions.

Strictly Enforced

Regulations or rules that are applied rigorously and without exceptions, ensuring compliance.

Family Violence

Acts of violence or abuse committed within the context of familial relationships.

Causes

The reasons or factors that bring about a certain outcome or condition.