Carole owns 75% of pet foods, inc. as ceo, carole must travel extensively and does so on the company jet. in addition, she also uses the jet to take several personal vacations. carole reports the value of the personal use of the jet, $140,000, as additional compensation. which of the following is true in terms of the corporation? a) the corporation includes $140,000 as miscellaneous income.b) the $140,000 has no impact on the corporation's income tax.c) the corporation takes a deduction of $140,000 for compensation expense.d) the corporation takes a deduction of $140,000 for dividend expense.

C) The corporation takes a deduction of $140,000 for compensation expense

Explanation:

because the compensation is related to the personal compensation so it would be an expense to the corporation.

1. The correct answer is C, because in A, there should be a comma after Europe, not a full stop. In B, the comma should be before the quotation marks, not after. In D, there should be a comma before Tim and the quotation marks. 2. The correct answer is D, because in A, there should be a comma after said, in B, no comma is needed after that, and in C, the full stop should be within the quote, not outside of it. 3. The correct answer is C, because in A, the exclamation mark should be within the quote, in B, there should be a question mark within the quote instead of a comma, and in D, there should be a comma after declared. 4. The correct answer is A, because in B, there are no quotation marks, in C, the beginning of the quote is not capitalized, and in D, there should be a comma after said. 5. The correct answer is D, because in A, there should be a comma after exclaimed, in B, there should be a comma after oh, and in C, there should be a comma after twice, and not a full stop.