Qualified Section 179 Property for a Retail Store Includes

question 83

Multiple Choice

Qualified Section 179 property for a retail store includes
I.Store shelving.
II.Company auto used by salesmen.
III.Sidewalks in front of the store.
IV.Delivery van owned by the store.
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• A)Only statement I is correct.
• B)Only statement III is correct.
• C)Statements I and IV are correct.
• D)Statements II and III are correct.
• E)Statements I, II, and IV are correct.

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Definitions:

Indirect Expenses

Costs that are not directly tied to a specific product, service, or department and need to be allocated, such as utilities or rent.

Contribution Margin

The amount remaining from sales revenue after variable costs are deducted, indicating how much contributes to covering fixed costs and generating profit.

Indirect Costs

Expenses not directly tied to a specific product or service, such as overhead, administrative salaries, and utilities.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.