Julius Is an Employee of a Large Consulting Firm What Is Julius's Miscellaneous Itemized Deduction?
A)$14,000
B)$16,000
C)$21,000
D)$22,000

question 131

Multiple Choice

Julius is an employee of a large consulting firm.During the year he incurs the following expenses in his job,none of which are reimbursed by his employer.Julius's adjusted gross income is $100,000 before considering these expenses.
$\begin{array}{ll}\text { Commuting between his home and office } & \$ 3,000 \\\text { Local travel to and from his office to visit clients } & \$ 4,000 \\\text { Local travel to and from his home to visit clients } & \$ 3,000 \\\text { Legitimate business entertainent of clients } & \$ 8,000 \\\text { Hotels accommodations while on business travel } & \$ 3,000 \\\text { Meals while away from home on business travel } & \$ 2,000 \\\text { Subscription fees for publications directly related to his employment } & \$ 1,000 \\\text { Cost of professional wardrobe } & \$ 7,000\end{array}$
What is Julius's miscellaneous itemized deduction?

• A)$14,000
• B)$16,000
• C)$21,000
• D)$22,000
• E)None of the above

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Definitions:

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The total amount of money received by the company for goods sold or services provided during a certain period.

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The sum of all assets owned by a company, as reported on the balance sheet, representing the resources controlled by the company.

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Revenue

The complete financial intake a company secures from transactions involving goods or services within a certain interval.