In Its First Taxable Year,Platform,Inc

question 51

Multiple Choice

In its first taxable year,Platform,Inc.generated a $200,000 net operating loss and made a $10,000 cash donation to a local charity.In its second year,Platform generated $350,000 operating income and made a $20,000 donation to the same charity.Compute Platform's taxable income for its second year.

• A)$120,000
• B)$135,000
• C)$320,000
• D)$130,000

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Definitions:

Systematic Random Sample

A sampling method where elements are selected from an ordered population using a fixed, periodic interval.

Random Selection

Random selection is a process in statistical sampling where each member of the population has an equal chance of being chosen, ensuring the sample is representative of the whole.

Sample

A sample is a subset of a larger population, selected for the purpose of analysis, which is used to infer or predict characteristics or outcomes for the whole population.

Statistic

A single measure, often derived from a sample, used to summarize or describe an aspect of the data.