Why Choose Us?
0% AI Guarantee
Human-written only.
24/7 Support
Anytime, anywhere.
Plagiarism Free
100% Original.
Expert Tutors
Masters & PhDs.
100% Confidential
Your privacy matters.
On-Time Delivery
Never miss a deadline.
Which of the following is a deductible expense for a sole trader business? a
Which of the following is a deductible expense for a sole trader business?
a. Provision for bad debts
b. CPF statutory contributions to part time staff [VP1] staff not staffs [DWWN2]amended
c. Exchange loss incurred for loan granted to an overseas employee
d. Display of signboard at entrance of shop building
Expert Solution
Answer
Correct asnwer is d.Display of signboard at entrance of shop building
Display of signboard at entrance of shop building is a business expense incurred for advertisement of business and is thus a deductible expense
Provision for baddebts is not a recognised loss and just a provision so not allowed as a deductible expense.
Similarly exchange loss incurred is not allowable as deductible expense as it is not a business expense.
CPF Contributions made to part time staff are not allowable expense
Archived Solution
You have full access to this solution. To save a copy with all formatting and attachments, use the button below.
For ready-to-submit work, please order a fresh solution below.
