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Tax Adjusted Trading Profits: True or False

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Downloading games is an exclusive feature for users with an Academic Plan or a Commercial Plan.

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If you wish, you can download a demo game here and test its integration:

Get Academic Plan

Tax Adjusted Trading Profits: True or False

Yes or No

(3)
Played 23 %Accuracy 71 Average time 01:21
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About this activity

Quick true/false on deductible expenses

Created by

Gemma McColgan
Gemma McColgan
United Kingdom

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Tax Adjusted Trading Profits: True or False
 

Tax Adjusted Trading Profits: True or FalseOnline version

Quick true/false on deductible expenses

by Gemma McColgan
1

Staff salaries and wages are deductible.

2

Employer pension contributions are allowable for tax purposes.

3

Fines for late filing of tax returns are deductible.

4

Owner’s drawings (cash taken from the business for personal use)

5

Gifts to customers (costing £40 each, branded with company logo)

6

Staff entertaining (annual party costing £300 per head)

7

Trade subscriptions to professional bodies are deductible.

8

Client entertaining costs are deductible for tax purposes.

9

Interest on business loan is deductible.

10

Donations to local charities (registered) are deductible.

11

Lease payments for business premises are deductible.

12

Gifts to customers costing £60 each (not branded) are deductible.

13

Depreciation on machinery is allowable for tax purposes.

 
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