Question 32

2.5 Points

Which of the following cannot be selected as a valid tax year end?

A. January 31^st

B. December 15^th

C. The last Friday of the last week of June.

D. December 31^st

E. A tax year can end on any of these days

Question 33

2.5 Poin

Francis works for a local fly fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year, Francis purchased one rod. The rod normally retails for $300, was purchased for $225, was sold to Francis for $250, and the employer's average gross profit percentage is 30 percent. What amount of the discount must be included in Francis' income?

A. $25.

B. $0.

C. $40.

D. Some other amount.