Which of the Following Does Not Give Rise to a Business

question 11

Multiple Choice

Which of the following does not give rise to a business expense for uniforms or special clothing?

• A)A lawyer buys a business suit.
• B)A mascot buys his costume.
• C)A baseball player buys his team uniform.
• D)A scientist buys his hazmat suit.
• E)All of the above are deductible.

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Definitions:

Inflation

The uplift in the aggregate price level for goods and services, reducing the efficacy of buying power.

Real GDP

Gross Domestic Product adjusted for inflation, which provides a more accurate depiction of an economy's size and how it's growing over time.

Inflation

An across-the-board inflation in prices resulting in a diminished capacity of money to purchase goods and services.

Per Capita GDP

Gross Domestic Product per person, a measure of a country's economic output that accounts for its population.