Question
1. Robert entertains several of his key clients on January 1 of the current year. Expenses paid by Robert are as follows: Tickets to sporting
1. Robert entertains several of his key clients on January 1 of the current year. Expenses paid by Robert are as follows:
| Tickets to sporting event | $ 400 |
| Food and beverages (separately listed) | 200 |
Presuming proper substantiation, Roberts deduction is:
| a. | $200 | |
| b. | $600 | |
| c. | $400 | |
| d. | $100 |
2. Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI is $55,000 in 2019. The maximum amount that Sammy can deduct for a contribution to a traditional IRA is:
| a. | $2,800 | |
| b. | $5,000 | |
| c. | $6,000 | |
| d. | $3,500 |
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Personal Trainer 3 0 Online For Albright/Ingram/Hills Managerial Accounting Information For Decisions
Authors: Thomas L. Albright, Robert W. Ingram, John S. Hill
4th Edition
0324233388, 978-0324233384
