In Determining Whether Travel Expenses Are Deductible,a General Rule Is

question 2

True/False

In determining whether travel expenses are deductible,a general rule is that if a person is reassigned for an indefinite period,the individual's tax home shifts to the new location and travel expenses are not deductible.

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to market price.

Consumer Surplus

The contrast between the expected payment by consumers for a good or service and the actual price paid.

Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices during a given time period.

Market Demand

is the total amount of a product or service that consumers in a market are willing and able to purchase at different prices, during a certain time period.