Which of the Following Is Not Allowed as an Itemized

question 36

Multiple Choice

Which of the following is not allowed as an itemized deduction?

• A)Cash donation to a church.
• B)Interest expense on a $800,000 loan incurred in 2016 to buy a principal residence.
• C)A subscription to the Wall Street Journal to help with personal investment decisions.
• D)Gambling losses to the extent of gambling winnings.
• E)All are allowed as itemized deductions.

Understand the principles of a gold standard and its effect on international trade balances.

Grasp the relationship between shifts in consumer preferences and their impact on currency demand and trade balances.

Understand how exchange rate changes affect the price of imported goods and services.

Learn the principles of the gold standard and its implications for currency valuation.