Racine Started a New Business in the Current Year

question 72

Multiple Choice

Racine started a new business in the current year. She incurred $52,000 of start-up costs. If her business started on November 23rd of the current year, what is the total expense she may deduct with respect to the start-up costs for her initial year, rounded to the nearest whole number?

• A) $2,555
• B) $3,544
• C) $5,522
• D) $52,000
• E) None of these

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Definitions:

Genetically

Pertaining to genes or heredity, often referring to the origin of traits and characteristics.

Temporal Cortex

The temporal cortex is part of the cerebral cortex that is involved in processing auditory information and is critical in the understanding of language, the formation of long-term memory, and emotion.

Neurons Activation

The process by which neurons become active, typically involving the influx of ions to generate an electrical impulse.