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While she was a college student, Juliet worked in a bookstore located near campus. She thinks a bookstore located on the other side of campus would be successful. She incurs expenses of $18,000 (accounting fees, marketing survey, etc.) in exploring its business potential. Her parents have agreed to loan her the money required to start the business. What amount of these investigation costs can Juliet deduct if:

1. She opens the business in July 2010.

2. She decides not to open the bookstore.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9419533

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