Which of the Following Is Not Required for an Expenditure

question 8

Multiple Choice

Which of the following is not required for an expenditure to be deductible as a business or investment expense?

• A)recurring in nature
• B)ordinary and necessary
• C)reasonable in amount
• D)incurred by the taxpayer

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Definitions:

Motives

The reasons or driving forces behind individuals' actions or behavior.

Motivational Principle

A fundamental truth about what motivates individuals to act in certain ways or pursue particular goals.

Performance

The execution of an action or task measured against preset known standards of accuracy, completeness, cost, and speed.

Fortune Magazine

An American international business magazine, published and owned by Time Inc., known for its ranked lists and business news.