Use the Graph to Determine Whether Is Positive or Negative

question 103

Multiple Choice

Use the graph to determine whether is positive or negative.

• A) Positive
• B) Negative

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Definitions:

Deductibility

Deductibility refers to the eligibility of an expense to be subtracted from gross income to reduce taxable income, based on IRS guidelines.

Schedule C

A form used by sole proprietors to report income and expenses from a business or profession to the IRS.

Schedule E

A form used with the Form 1040 for reporting income from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests.

Tax Purposes

Criteria or activities specifically considered or accounted for in the calculation or management of taxes.