Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 10 Marked out of 1 Celeste has her own business at home and, due to all the load-shedding and cable theft recently, she decided

image text in transcribed

Question 10 Marked out of 1 Celeste has her own business at home and, due to all the load-shedding and cable theft recently, she decided to purchase a generator for R15 000 so that she can continue to make craft items when the electricity goes off. Without the generator she would not be earning any income on the days that she does not have any power. YOU ARE REQUIRED to identify the incorrect statement regarding the purchase of the generator and its deductibility. a. The expense is deductible in terms of the general deduction formula. b. The generator will create an enduring benefit. c. The expenditure is capital in nature. d. The expense of purchasing the generator is part of the capital structure of the business

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Use separation of variables to solve y dy dt = y 2 sin t sin t.

Answered: 1 week ago

Question

1. Explain the 2nd world war. 2. Who is the father of history?

Answered: 1 week ago