Which of the Following Requirements Does Not Have to Be

question 99

Multiple Choice

Which of the following requirements does not have to be met for a business or investment expense to be deductible:

• A)Be ordinary and necessary.
• B)Be reasonable in amount.
• C)Be recurring.
• D)Be the taxpayer's own expense.
• E)All of the above must be met.

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Definitions:

Enacted

The process by which proposed laws are officially made into law following approval by a legislative body.

United States Reporter

An official publication of United States Supreme Court decisions.

Citation

A reference to a legal source, such as a case, statute, or regulation, or the act of issuing a formal notice for a violation.

Dissenting Opinions

Refers to the opinions written by one or more judges in a court who disagree with the majority's decision.