The taxable income of Jenny for first week ofJanuary 2021 was R3 220. She did not earnovertime pay or any other remuneration. Herweekly pension deduction was R280. Her otherdeductions amounted to R800. Which one ofthe following statements is true?Select one:O A. Her contribution to the pension fund was8% of her normal pay.O B. Her net wage was R2 140.O C. Her gross wage was R4 300.D. Her gross wage for January 2021 washigher than her basic wage. Which one of the following is considered to be acost of purchasing inventory?Select one:O A. Costs involved in negotiations withsuppliersB. Loss of interest on capital tied up ininventoryO C. InsuranceD. Goods becoming obsolete

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The taxable income of Jenny for first week of January 2021 was R3 220. She did not earn overtime pay or any other remuneration. Her weekly pension deduction was R280. Her other deductions amounted to R800. Which one of the following statements is true? Select one: O A. Her contribution to the pension fund was 8% of her normal pay. B. Her net wage was R2 140. O C. Her gross wage was R4 300. D. Her gross wage for January 2021 was higher than her basic wage.

The taxable income of Jenny for first week of January 2021 was R3 220. She did not earn overtime pay or any other remuneration. Her weekly pension deduction was R280. Her other deductions amounted to R800. Which one of the following statements is true? Select one: O A. Her contribution to the pension fund was 8% of her normal pay. B. Her net wage was R2 140. O C. Her gross wage was R4 300. D. Her gross wage for January 2021 was higher than her basic wage.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 38P

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The taxable income of Jenny for first week of January 2021 was R3 220. She did not earn overtime pay or any other remuneration. Her weekly pension deduction was R280. Her other deductions amounted to R800. Which one of the following statements is true? Select one: O A. Her contribution to the pension fund was 8% of her normal pay. O B. Her net wage was R2 140. O C. Her gross wage was R4 300. O D. Her gross wage for January 2021 was higher than her basic wage.
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