Toby,owner of a Cupcake Shop in New York,is Considering Opening

question 35

Multiple Choice

Toby,owner of a cupcake shop in New York,is considering opening a similar business (i.e.,a cupcake shop) in Phoenix.After spending $4,200 investigating such possibilities in Phoenix,Toby decides against opening the store.What is the maximum amount of deduction for the current year attributable to these expenditures?

• A)$0
• B)$420
• C)$840
• D)$4,200

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Definitions:

External Locus

The belief that one's successes or failures result from external factors beyond their control, rather than one's own efforts.

Conditional Positive Regard

Conditional positive regard is when acceptance and love are contingent upon behaving in a certain way or meeting particular standards, often discussed in psychology.

Role Model

A person to whom an individual can look to for guidance by example, but who isn’t necessarily actively interacting with the individual.

Procrastinating

The action of delaying or postponing tasks despite knowing there will be negative consequences for doing so.