Choose the Word or Phrase in [ ] Which Will

question 94

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Interest you paid on your [car | house] loan could be taken as an itemized deduction on your tax return.

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Definitions:

Agent's Negligence

A failure by an agent to exercise the care, diligence, and skill that a reasonably prudent person would exercise in similar circumstances.

Principal

Principal refers to the original sum of money loaned or invested, before interest, or the main party to a transaction or agreement.

Damages

A sum of money awarded in compensation for loss or injury caused by the wrongful act of another party.

Agent

A person or entity authorized to act on behalf of another person or entity in business transactions or legal matters.