Which of the Following Expense Items Is(are)deductible as Rental Expense

question 33

Multiple Choice

Which of the following expense items is(are) deductible as rental expense?

• A)Property taxes.
• B)Depreciation.
• C)Insurance.
• D)All are deductible rental expenses.

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Definitions:

Partnerships

Business arrangements where two or more individuals share the ownership, responsibilities, profits, and losses of a business enterprise.

Article 2(A)

A section of the Uniform Commercial Code that specifically deals with the leasing of goods.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law in all 50 states.

Personal Property

Items owned by an individual or business that are movable and not permanently attached to land or buildings.