Emerald Corporation, a Calendar Year C Corporation, Was Formed and Began

question 48

Multiple Choice

Emerald Corporation, a calendar year C corporation, was formed and began operations on April 1, 2015. The following expenses were incurred during the first tax year (April 1 through December 31, 2015) of operations. Assuming a § 248 election, what is the Emerald's deduction for organizational expenditures for 2015?

• A) $0
• B) $4,550
• C) $5,000
• D) $7,400
• E) None of the above

---

Definitions:

Monitor Tag

In programming and industrial control systems, a label or identifier assigned to a variable or process parameter that is subject to continuous observation or tracking.

Edit Tag

The action or process of modifying an identifier or name in a database, programming environment, or system setup.

XIC Instruction

The XIC (Examine if Closed) Instruction in PLC programming is used to check if a specific input or bit status is true (i.e., on or closed) before executing subsequent instructions.

Logic Input

An input signal or condition received by a device that is used to perform logical operations in control systems.