Question
In the current year of income, John had $65,000 of assessable income, $8,000 of deductions and $3,000 net exempt income. What is Johns taxable income?
In the current year of income, John had $65,000 of assessable income, $8,000 of deductions and $3,000 net exempt income. What is Johns taxable income?
| A. | $2,000 | |
| B. | $75,000 | |
| C. | $65,000 | |
| D. | $57,000 |
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
15th edition
978-1118159644, 9781118562185, 1118159640, 1118147294, 978-1118147290
