VB Corporation Reported a Net Loss of $50,000 for Accounting

question 80

Multiple Choice

VB Corporation reported a net loss of $50,000 for accounting purposes.Items included in the loss are golf dues amounting to $3,000, meals and entertainment totalling $10,000, CCA of $10,000, depreciation of $5,000, warranty expenses of $8,000 and warranty expenditures of $6,000.VB's taxable income is:

• A)($45,000)
• B)($58,000).
• C)($57,000).
• D)($51,000).

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Definitions:

Neuroticism

A personal attribute identifiable by its emotional volatility, anxious feelings, variability in moods, easily irked nature, and depressive states.

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, and the desire to do a task well.

Openness To Experience

A personality dimension that involves the willingness to engage in new experiences, embrace novel ideas, and be open-minded.

Declines

The process of diminishing in quality, quantity, or strength over time.