Charles Is a Single Person,age 35,with No Dependents

question 18

Multiple Choice

Charles is a single person,age 35,with no dependents.In 2013,Charles has gross income of $75,000 from his sole proprietorship.Charles also incurs $80,000 of deductible business expenses in connection with his proprietorship.He has interest and dividend income of $22,000.Charles has no itemized deductions.Charles's taxable income is

• A)$7,000.
• B)$12,000.
• C)$13,100.
• D)$17,000.

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Definitions:

Exemplification

The act of serving as a typical or ideal example, often used to demonstrate values, principles, or desired behaviors.

Dedication And Loyalty

A strong feeling of commitment and faithfulness towards a cause, organization, or relationship.

Mission

A statement or declaration of the fundamental purpose of an organization, outlining its goals, guiding principles, and reason for existence.

LMX Theory

An approach to understanding leadership that focuses on the interactions between leaders and individual team members, emphasizing that these relationships vary in quality.