Which of the Following Is a True Statement

question 6

Multiple Choice

Which of the following is a true statement?

• A)Meals are never deductible as a business expense.
• B)An employer can only deduct half of any meals provided to employees as compensation.
• C)The cost of business meals must be reasonable.
• D)A taxpayer can only deduct a meal for a client if business is discussed during the meal.
• E)None of the choices are true.

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Definitions:

Mao Zedong

A Chinese communist revolutionary and the founding father of the People's Republic of China, serving as its first Chairman.

Communist

A person who supports or believes in the principles of communism, a socio-economic ideology that advocates for the common ownership of the means of production and the absence of social classes.

People's Republic of China

A sovereign state in East Asia, established in 1949, governed by the Communist Party of China, with Beijing as its capital.

1949

The year 1949 marks a significant period in global history, witnessing the formation of the North Atlantic Treaty Organization (NATO) and the establishment of the People's Republic of China.