To Be Tax Deductible,an Expense Must Be All of the Following

question 21

Multiple Choice

To be tax deductible,an expense must be all of the following except

• A)ordinary and necessary.
• B)paid in cash.
• C)reasonable in amount.
• D)an expense of the taxpayer.

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Definitions:

Trephination

Procedure in which holes were drilled in the skulls of people displaying abnormal behavior, presumably to allow evil spirits to depart their bodies; performed in the Stone Age.

Exorcism

A religious or spiritual ritual carried out to expel evil spirits or demons from a person or place believed to be possessed.

Atonement

The act of making amends or reparation for wrongdoing or guilt.

Cultural Relativism

The idea that a person's customs and practices should be interpreted by others based on the cultural context of that individual.