In March of the Current Year,Marcus Began Investigating the Possibility

question 92

Multiple Choice

In March of the current year,Marcus began investigating the possibility of opening a specialty clothing store.From March through June,he spent $2,300 on a market survey,$2,700 in consulting fees to find the best location and $3,600 in professional fees setting up an accounting and inventory system.Although he had never run his own business before,on August 1 he opened his doors for business.What is the maximum amount of deduction for the current year attributable to these expenditures?

• A)$0
• B)$5,000
• C)$5,100
• D)$8,600

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Definitions:

Table Column

A vertical division of data in a table, where each column represents a specific attribute or field of the database record.

Reapply

The action of applying a previous action or setting again in order to ensure current data or content conforms to a specific standard or format.

Filter

A tool in data processing and analysis that allows for the narrowing down of data sets by specifying criteria to display only the data that meet those criteria.

LOCATE

A command or function in programming and software applications that is used to find and identify the position of a specified piece of data within a file or database.