Which of the Following Is Deductible as Interest Expense

question 66

Multiple Choice

Which of the following is deductible as interest expense?

• A)personal credit card interest
• B)interest to purchase tax-exempt bonds
• C)bank service charges on personal account
• D)interest on a home equity loan to purchase a car

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Definitions:

Slavery Expansion

Refers to the historical period in which the institution of slavery grew and spread, particularly in the United States during the 19th century.

Abolition

The movement aimed at ending the slave trade and freeing enslaved people, especially prevalent in the 19th century in the United States and Britain.

Virginia

A state located on the Atlantic Coast of the United States, known for its historical significance in American history.