Match the Statements That Relate to Each Other

question 141

Short Answer

Match the statements that relate to each other. (Note: Choice L may be used more than once.)
a.Cover charge paid to entertain client at a night club.
b.Deductible even if taxpayer does not take the new job
c.Company picnic sponsored by employer
d.Use of Federal per diem allowance to substantiate meals while in travel status
e.Does not have to be job related
f.Can include cost of car insurance and automobile club dues
g.Distribution from plan is taxable
h.Distribution from plan is not taxable
i.Expatriate (U.S. person who is employed overseas) returns home to retire
j.Taxpayer moves to a new residence 55 miles closer to his present job
k.Country club membership fee
l.Correct match not provided
-Actual cost method of determining car expense

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Definitions:

Bottom-Up Plan

A planning approach that starts at the operational level, with detailed tasks and schedules, and integrates them into an overall strategic plan.

Realistic Compromise

An agreement or solution that is practical and achievable, considering the existing limitations and differences between parties.

Aggressive Optimism

A mindset or investment strategy characterized by a high expectation for positive outcomes, often leading to higher risk-taking.

Conservatism

In accounting, it is a principle that requires potential expenses and liabilities to be recognized immediately, but revenues only when they are ensured.