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In 2019, AutoUSA Inc

question 51

Essay

In 2019, AutoUSA Inc. reported $4,600,000 of book income, including $20,000 of interest income from tax-exempt bonds. AutoUSA reported $3,600,000 of regular business expenses. If it made $210,000 of estimated tax payments (prepayments) throughout the tax year, what is its tax due or tax refund when it files its return?


Definitions:

Informational Social Influence

The change in opinions or behavior that occurs when an individual conforms to what they believe is the correct way to act, based on information from others.

Normative Social Influence

The influence of other people that leads us to conform in order to be liked and accepted by them.

Group

A collection of individuals who interact with each other, usually sharing common goals or interests.

Normative Social Influence

How others impact us, driving us to adapt our behaviors to achieve their liking and acceptance.

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