Which of the following is an adjustment to gross income?
A)
Property taxes
B)
Qualified Educational Expenses
C)
Gambling losses
D)
Job related moving expenses
D
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M. Mabrey received $2,500 from a tenant on December 1 for five months' rent of an office. This rent was for December, January, February, March, and April. If Mabrey debited Cash and credited Unearned Rental Income for $2,500 on December 1, what necessary adjustment would be made on December 31?
A) Rental Income 2,000 Unearned Rental Income 2,000 B) Unearned Rental Income 2,000 Rental income 2,000 C) Rental Income 500 Unearned Rental Income 500 D) Unearned Rental Income 500 Rental Income 500 E) None of the above
The theoretical principal underlying the swap is termed the
A) basis amount. B) swap differential. C) notional principal. D) arbitrage principal.