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QUESTION COMPLETION STATUS: Moving to another question will save this response. Question 10 Choose a correct statement from the following in relation to share buy-back.

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QUESTION COMPLETION STATUS: Moving to another question will save this response. Question 10 Choose a correct statement from the following in relation to share buy-back. The accounting treatment for share buy-back is clearly prescribed in the conceptual Framework. Share buy-back is allowed by the Corporation Act 2001 whenever companies have excess funds and wish to buy back their shares. Share buy-back scheme maybe used as a way to manage surplus funds held by companies. O Companies undertake share buy-back as a tactic to defend against a hostile takeover. OPE Moving to another question will save this response. Questo ems show...to start vere to search o Tyke Lonergan purchased an apartment in South Melbourne on 1 July 2018. Tyke made the property available for lease immediately and has compiled the followig transactions icluding his salary from employment as a chef. INCOME $ Rent received Gross Salary received 28,400 105,750 EXPENDOURE Purchase price of apartment 417500 Stamp duty on apartment 24850 Borrowing Costs on 20 year mortgage 1250 Loan Repayments (including interest of $22,380) 28,150 Repairs to balcony on 1/8/18 (relating to existing damage) 5,65 Repairs to glass door following... hailstorm on 29/12/18 790 Replacement of front door on 15/4/19(wooden door replaced with 930 reinforced security door) Strata Levies paid 3,010 Rates paid 1570 Donation to owner of neighbouring unit who had their apartment 300 destroyed by burglars Building and Contentsurance 680 Agent's Commission paid 2.15 Letting Fees paid 1040 Note 1 - Tyke also used his 2.400cc car for 140 kilometres of travel to inspect and manage his property Note 2 - The deduction available to Tyke for dedine in value on his fittings and floor coverings is $3,090 Calcul Calculate Tyke's taxable income for the tax year

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