On 12/31/X4, Zoom, LLC, Reported a $60,000 Loss on Its

question 58

Multiple Choice

On 12/31/X4, Zoom, LLC, reported a $60,000 loss on its books. The items included in the loss computation were $30,000 in sales revenue, $15,000 in qualified dividends, $22,000 in cost of goods sold, $50,000in charitable contributions, $20,000 in employee wages, and $13,000 of rent expense. How much ordinary business income (loss) will Zoom report on its X4 return?

• A)($8,000)
• B)($25,000)
• C)($60,000)
• D)($95,000)

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Definitions:

Variables

Elements, features, or factors that can be changed and measured in an experiment to determine their effects.

Main Effect

In analysis of variance, when a factor or an independent variable has a significant effect upon the outcome variable.

ANOVA

Short for Analysis of Variance, a set of statistical techniques used to compare the means of three or more samples.

Factor

An element that contributes to a particular result or situation, often used as a variable in experiments and statistical analysis.