question 6(a) Provide the costs incurred on the plant or machinery used for the purposeof the business which is entitled to be included as “qualifying expenditure”in tax law. Explain the answer with relevant examples. Thank you.

3 What is income tax payable? O A company's liability, based on profitability, that is paid in advance to the government O A payment to a company, based on profitability, that is paid in advance from the government A payment to a company, based on profitability, to be paid from the government O A company's liability, based on profitability, to be paid to the government

For federal income tax purposes, the difference between the total income and total expenses reported by a C corporation may be referred to as what type of income?

Section 162 provides the general rule that expenses incurred in a trade or business are deductible. Reg. §1.162-5 elaborates on the deductibility of A.Travel expenses. B.Expenses of farmers. C.Repairs. D. Expenses for education