Chandler corporation reported pretax book income of $2,000,000. tax depreciation exceeded book depreciation by $500,000. during the year the company capitalized $250,000 into ending inventory under §263a. capitalized inventory costs of $150,000 in beginning inventory were deducted as part of cost of goods sold on the tax return. compute the company’s taxes payable or refundable.

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

one of the appeals of a sole proprietorship is that business expenses are kept separate from your personal income tax return