Match the Statements That Relate to Each Other

question 44

Short Answer

Match the statements that relate to each other. (Note: Choice L may be used more than once.)
a.Cover charge paid to entertain client at a night club.
b.Deductible even if taxpayer does not take the new job
c.Company picnic sponsored by employer
d.Use of Federal per diem allowance to substantiate meals while in travel status
e.Does not have to be job related
f.Can include cost of car insurance and automobile club dues
g.Distribution from plan is taxable
h.Distribution from plan is not taxable
i.Expatriate (U.S. person who is employed overseas) returns home to retire
j.Taxpayer moves to a new residence 55 miles closer to his present job
k.Country club membership fee
l.Correct match not provided
-Cutback adjustment does not apply

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Definitions:

Quantity Demanded

Quantity demanded is the total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.

Equilibrium

A state in which market supply and demand balance each other, resulting in stable prices and quantities.

Usury Laws

Regulations that set the maximum interest rate that can be charged on loans, intended to protect consumers from excessively high rates.

Rent Control

Government policies or laws that limit the amount landlords can charge for leasing a home or renewing a lease to protect tenants from sharp increases.