Racine Started a New Business in the Current Year

question 38

Multiple Choice

Racine started a new business in the current year. She incurred $52,000 of start-up costs.If her business started on November 23rd of the current year, what is the total expense she may deduct with respect to the start-up costs for her initial year, rounded to the nearest whole number?

• A) $5,522
• B) $52,000
• C) $2,555
• D) $3,544
• E) None of the choices are correct.

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Definitions:

Clarification

The act of rendering a statement or scenario more clear and understandable.

Emotional Intelligence

The ability to form work relationships with colleagues, display maturity in a variety of situations, manage emotions, consider the emotions of others, and resolve conflicts by interacting with colleagues constructively to achieve a positive outcome.

Work Relationships

Interactions and bonds formed between colleagues in a professional setting.