?If the Beginning Balance in OAA Is Zero, and the Following

question 42

Multiple Choice

?If the beginning balance in OAA is zero, and the following transactions occur, what is the ending OAA balance? ? $$\begin{array} { l r } \text { Depreciation recapture income } & \$ 21,000 \\\text { Payroll tax penalty } & 4,200 \\\text { Tax-exempt interest } & 5,700 \\\text { Nontaxable life insurance proceeds } & 3,900 \\\text { Insurance premiums paid (nondeductible) } & 2,900 \\\text { Charitable contributions } & 17,000\end{array}$$

• A)?$1,300.
• B)?$6,700.
• C)?$23,300.
• D)?$27,500.
• E)?None of the above.

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Definitions:

Clean Water Act

U.S. federal law established to regulate pollutant discharges into the waters of the United States and to set water quality standards.

Toxic Chemicals

Substances that can cause harm to humans, animals, plants, or the environment when they are released or their concentration exceeds certain levels.

Water Supply

The provision and management of water resources for consumption, sanitation, and various uses.

Clean Water Act

The Clean Water Act is a federal law enacted in the United States aimed at reducing pollution and protecting the quality of the nation's waters, including lakes, rivers, and coastal areas.