The Dot Corporation Has Changed Its Year-End from a Calendar

question 63

Multiple Choice

The Dot Corporation has changed its year-end from a calendar year-end to August 31. The income for its short period from January 1 to August 31 is $54,000. The tax for this short period is:

• A)$2,040
• B)$6,250
• C)$8,667
• D)$10,572

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Definitions:

Major Product

The main substance produced in a chemical reaction, often present in the largest amount among other products.

Benzoyl Chloride

An organic compound used as an acylating agent in organic synthesis, with the formula C6H5COCl.

Phenyl Propyl Ketone

An organic compound consisting of a ketone functional group bonded to a phenyl group and a propyl group.

Major Organic Product

The primary product of an organic reaction that is formed in greater quantity than any other products.