Which of the Following Items Would Be an Itemized Deduction

question 43

Multiple Choice

Which of the following items would be an itemized deduction on Schedule A of Form 1040?

• A)Professional dues paid by an accountant (employed by Ford Motor Co.) to the National Association of Accountants.
• B)Gambling losses to the extent of gambling winnings.
• C)Job-hunting costs.
• D)Subscription to the Wall Street Journal.
• E)None of these.

---

Definitions:

Contribution Margin

Contribution margin is the amount by which sales revenue exceeds variable costs, indicating how much revenue contributes towards covering fixed costs and generating profit.

Production Constraint

Any factor that limits the output of a production process, such as limited machine capacity or shortages of materials or labor.

Constrained Resource

A limited resource that restricts an organization's ability to produce goods or services, affecting throughput and operational efficiency.

Fixed Cost

Expenses that do not change in total over a wide range of activity levels or over the short term, such as rent or salaries.