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Which one of the following amounts is DEDUCTIBLE in computing income of a sole proprietorship under Division B of the Act?
$1,000 of donations to federal political parties.
$4,000 in accrued bonuses unpaid 7 months after year end. The amounts were legal liabilities at year end.
An $8,000 increase in the financial accounting reserve for warranty expenses.
$4,000 cost of tickets for meals and entertainment at a gala fund-raising event for a registered charity.
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