Which of the Following Is/are Trade or Business Expenses

question 137

Multiple Choice

Which of the following is/are trade or business expenses?
I.Mahlon incurs expenses related to investing in stocks and bonds. Mahlon is a Sociology professor at State University but spends 10-15 hours per week on his investments. Almost 2/3 of Mahlon's annual income comes from his investments as dividends and interest.
II.Shaheen has expenses related to managing her portfolio of securities. The short-term trading of her securities generates most of her annual income. She has no other job.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Aquatic Food Chains

The hierarchical sequence of organisms each dependent on the next as a source of food in an aquatic environment.

Diatoms

Diatoms are a major group of algae, characterized by their unique cell walls composed of biogenic silica.

Paramecium

A single-celled freshwater organism belonging to the kingdom Protista, characterized by its oval shape and the presence of cilia for movement and feeding.

Ciliates

A group of protozoans characterized by the presence of hair-like structures called cilia, which they use for movement and feeding.