What Is a Pure-Play Business

question 157

Multiple Choice

What is a pure-play business?

• A)A business that operates only on the Internet without a physical store
• B)A business that sells products only in a physical store
• C)A business that sells services only in a physical store
• D)All of the above

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Definitions:

Federal Income Taxes

Taxes levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Itemized Deduction

involves subtracting eligible expenses from one's taxable income, instead of taking the standard deduction. These expenses are listed out or itemized on the tax return.

Schedule A

An IRS form used for itemizing deductions such as medical and dental expenses, taxes paid, interest paid, gifts to charity, and casualty and theft losses.

Qualified Residence

A primary or secondary home that meets certain IRS criteria, allowing for potential mortgage interest deductions.