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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
-Tax home has changed
Effective Interest Rate
The real rate of interest earned or paid on an investment, loan, or other financial product, accounting for the effects of compounding.
Bank Discounts
An interest deduction from the face value of a note, payable by the borrower at the time a loan is issued.
Reversing Entry
An accounting method used to reverse the impact of certain journal entries made in the previous accounting period for the sake of simplicity in future record keeping.
Interest Accrued
The accumulated interest on a loan or bond that has not yet been paid to the lender.
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