Bart Owns 100% of the Stock of Octo Corporation,which Uses

question 54

Multiple Choice

Bart owns 100% of the stock of Octo Corporation,which uses the accrual method.Bart's sister Samantha,a cash-method taxpayer,did some advertising work for Octo in November 2017.In December,Octo received a billing statement from Samantha for $5,000 and paid Samantha the $5,000 in January 2018.Samantha is a calendar-year taxpayer.When may Octo deduct the $5,000?

• A)2017
• B)2018
• C)Either 2017 or 2018
• D)The expense is not deductible since Samantha is Bart's sister.

Assess the effect of government contracts on nonprofit responsiveness to government directives.

Identify strategies to simplify the grant process recommended by the Urban Institute.

Understand the regulations around combining government funds with private funds in nonprofit organizations.

Realize the limitations of government funding in covering nonprofit indirect costs.

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Definitions:

Input Instructions

Guidelines or commands given to a system or device specifying the data to be used for processing or operations.

RTO Timer

An abbreviation for "Retentive Timer On," a type of timer in PLC programming that retains its value even after the control power is lost.

Accumulated Value

The total sum or aggregation of individual values over a period of time or through a series of operations.

Time Delay

A deliberate pause or latency introduced into a process or electronic circuit, to ensure timings and sequences are properly coordinated.