MATCHING Identify the Letter of the Choice That Best Matches the the Phrase

question 88

Multiple Choice

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-Adds the values in a range that meet criteria you specify

• A)SUMIF
• B)VLOOKUP
• C)COUNTIF
• D)conditional formatting
• E)DATEDIF
• F)AVERAGE
• G)HLOOKUP
• H)TRANSPOSE
• I)logical condition
• J)SUM

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Definitions:

Deductible

An expense that can be subtracted from gross income to reduce the amount of income subject to tax.

More-Than-50% Business-Use Test

A criterion used for determining whether an asset is used primarily for business, requiring that over 50% of its use is for business to qualify for certain tax deductions.

Listed Property

Assets specified by the IRS that are subject to specific record-keeping and substantiation requirements, such as vehicles and computers used for business.

Business Bad Debt

Debt associated with the conduct of a trade or business that becomes worthless or uncollectible during the tax year.