Question
Which of the following may not be deducted from gross receipts to arrive at gross income for purposes of computing the MCIT of a taxpayer
Which of the following may not be deducted from gross receipts to arrive at gross income for purposes of computing the MCIT of a taxpayer engaged in the sale of services under the cash basis?
a. cost of services
b. sales returns and allowances
c. sales discount
d. none of the above
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772, 128543952X, 1305177770, 978-1285439525
