Steve and Holly Have the Following Items for the Current

question 46

Multiple Choice

Steve and Holly have the following items for the current year: $\begin{array}{lr}\text { Dividend income } & \$ 8,000 \\\text { Interest income } & 7,000 \\\text { Itemized deductions (none of the amount resulted from a casualty loss) } &(13,000) \\\text { Business capital gains } & 1,000\\\text { Business capital losses } & (5,000) \\\hline\end{array}$ In calculating their net operating loss,and with respect to the above amounts only,what amount must be added back to taxable income (loss) ?

• A)$0
• B)$1,300
• C)$2,000
• D)$3,000
• E)None of these

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Definitions:

Final Forecast

The last projection made about a variable of interest, such as sales or market trends, before actual data replaces estimates.

Indirect Forecast

Indirect forecast refers to a method of predicting future outcomes or trends based on related but not directly connected indicators, rather than directly observing the phenomenon being forecasted.

Sales Forecasting Techniques

Methods used to estimate the future sales of a product or service over a specific period, based on historical data, market analysis, and other factors.

Heuristic Prognostications

Forecasting or predictions made based on educated guesses or experiential rules rather than formal methods.