Match the Statements That Relate to Each Other

question 76

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
-Deemed substantiation

---

Definitions:

Journal Entries

Records of financial transactions in the accounting system that are used to transfer amounts from one account to another, reflecting the financial effects of business transactions.

Accident Insurance

Accident Insurance is a type of policy providing financial compensation to the insured in case of injuries, disability, or death caused solely by accidental means.

Accrued Salaries

These are wages that have been earned by employees but have not yet been paid by the employer.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption or wear and tear.