All of the Following Are Deductible as Medical Expenses Except

question 64

Multiple Choice

All of the following are deductible as medical expenses except

• A)vitamins and health foods that improve a taxpayer's general health.
• B)payments for a vision exam and contact lenses.
• C)payments to a hospital for laboratory fees and X-rays for diagnosis of a medical problem.
• D)cosmetic surgery necessary to correct a deformity arising from a congenital abnormality.

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Definitions:

Expenditures

Money spent on goods, services, or other expenses.

Scale Economies Index

A measurement that assesses the advantages a business gains due to the scale of its operation, typically resulting in reduced costs per unit as production increases.

Cost-Output Elasticity

The responsiveness of the cost of producing a good or service to changes in the level of output.

Diseconomies of Scale

A situation where a business grows so large that the costs per unit increase. It occurs when economies of scale no longer function for a firm.