Which of the Following Is Incorrect

question 25

Multiple Choice

Which of the following is incorrect?

• A) All salaries of a business are deductible.
• B) To be deductible, a business expense must be both ordinary and necessary.
• C) The income and expenses of a sole proprietorship business are reported on Schedule C.
• D) The purchase of a building must be capitalized.
• E) All of the above are incorrect.