NeNe Is an Accountant and U

question 100

Multiple Choice

NeNe is an accountant and U.S. citizen, who has accepted a permanent position in Madrid, Spain for a Spanish financial services company. This year, NeNe spent the entire year working in Madrid. NeNe's employer paid $40,000 of her Madrid housing expenses this year. What amount of the $40,000 housing payments may NeNe exclude?

• A) NeNe can exclude all of the housing payment because she worked more than 330 days overseas
• B) 16,208
• C) 23,792
• D) 14,182
• E) None of her salary can be excluded from gross income.

Explain the difference between forward and futures contracts and their respective trading venues.

Identify strategies for managing risk using futures contracts for both hedgers and speculators.

Understand the calculation and implications of profit, loss, and basis in futures contracts.

Describe the regulatory and tax considerations relevant to futures trading.

---

Definitions:

Preservatives

Substances used in food processing and preservation to prevent spoilage and decay caused by microbial growth or undesirable chemical changes.

Hours Until Spoilage

The estimated time it takes for food or other perishable items to become unsuitable for consumption due to degradation or the growth of harmful organisms.

Rejection Region

The range of values for which a null hypothesis is rejected in a hypothesis testing scenario.

Top Speed

The maximum velocity that an object or entity can reach under specific conditions.