Match the Statements That Relate to Each Other

question 56

Short Answer

Match the statements that relate to each other. (Note: Choice L may be used more than once.)
a.Must involve the same trade or business
b.Must be for the convenience of the employer
c.Meals while in route
d.Lodging while in route
e.Out-of-town job assignment lasts for more than one year
f.Can include actual cost of parking
g.Payment for services rendered based on tasks performed
h.Excludes use of MACRS depreciation
i.Taxpayer has tools and helper provided for him
j.Transportation must be allocated if taxpayer spends two weeks on business and one week sightseeing
k.Paralegal obtains a law degree
l.Correct match not provided
-Deductible moving expense

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Definitions:

Net Income

A company's overall earnings remaining after deducting all expenses, taxes, and costs from its total revenue.

Cash Dividends

A distribution of a portion of a company's earnings, decided by the board of directors, paid to a class of its shareholders.

Financing Activities

Activities that result in changes in the size and composition of the equity and borrowings of a company, reported in the cash flow statement.

Net Income

The net profit of a company following the deduction of all expenses and tax amounts from its total income.