A homeowner can receive preferential tax treatment by
a. an interest deduction.
b. use of the universal exclusion.
c. a property tax deduction.
d. all of these.
Answer: d. all of these.
Business
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If the debit amount of an adjusting entry adjusts an income statement account, the credit amount of the adjusting entry must adjust a____ _____ account.
Fill in the blank(s) with the appropriate word(s).
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In most manufacturing industries, which of the following would likely represent the largest cost to the firm?
A) transportation B) purchasing C) insurance D) financing E) advertising
Business