Terry and jim are both involved in operating illegal businesses. terry operates a gambling business and jim operates a drug running business. both businesses have gross revenues of $500,000. the businesses incur the following expenses.
bribes to police
rent and utilities
cost of goods sold
which of the following statements is correct and why (1-3 sentence justification)?
neither terry nor jim can deduct any of the above items in calculating the business profit.
terry should report profit from his business of $250,000.
jim should report profit from his business of $500,000.
jim should report profit from his business of $250,000.
none of the above.
physician assistant studies.
c is the correct answer
the answer i think would be b. self confidence
cuz you have to be confident of yourself!
answer; /// i believe its ; research and content manager; ///////////