The final exam: National survey tests business acumen of veterinary students; more study needed - DVM
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The final exam: National survey tests business acumen of veterinary students; more study needed


YOUR DVM CAREER


5. Your last year's income was $100,000 and places you in the 30 percent tax bracket (wow!). Your accountant told you that you have $20,000 in deductions (disregarding any limitations on deductions). What is the proper equation for calculating how much tax you owe?
Correct: 48.6 percent of respondents
Incorrect: 51.4 percent
Correct Answer: ($120,000 - $20,000) x 30% = $24,000

6. The acronym IRA stands for:
Correct: 76.9 percent of respondents
Incorrect: 23.1 percent
Answer: Individual Retirement Account

7. Studies show that the single most important factor in preventing negligence claims is:
Correct: 75 percent of respondents
Incorrect: 25 percent
Answer: A good doctor/client relationship

8. (True or false) A doctor working under a professional corporation cannot be held personally liable to his or her clients or patients.
Correct: 82.6 percent of respondents
Incorrect: 17.4 percent
Correct answer: False

10. (True or false) Student-loan interest is not deductible.
Correct: 60.3 percent of respondents
Incorrect: 39.7 percent
Correct answer: True

Nearly half the veterinary students taking the poll answered seven out of 10 questions correctly. Better poll scores were associated with age and graduation year.

In addition, prior business education and Veterinary Business Management Association membership positively influenced scores, McVety says.


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