An Example of a One-Time Expense for a Shoe Factory

question 42

Multiple Choice

An example of a one-time expense for a shoe factory would be buying:

• A) a sewing machine, and would be included in total cost.
• B) a sewing machine, and would be excluded from total cost.
• C) leather to make the shoes, and would be included in total cost.
• D) leather to make the shoes, and would be excluded from total cost.

---

Definitions:

Moving Expenses

Costs incurred for relocating, which in certain situations, may be deductible for tax purposes.

Above-the-line Deduction

A deduction from gross income that can be taken without itemizing deductions, reducing adjusted gross income, and available to all taxpayers who qualify.

Moving Expenses

Costs incurred by an individual or household for relocating to a new residence, which can sometimes be deducted for tax purposes if they are related to starting a new job.

Qualified Education Loans

Loans taken out exclusively for paying higher education expenses that are eligible for certain tax benefits.