Which of the Following Is (Are)correct Concerning the Time Test

question 147

Multiple Choice

Which of the following is (are) correct concerning the time test for deducting moving expenses?
I.Self-employed individuals must work in the new location for 39 weeks during a 2-year period.
II.A transfer of the employee by the employer waives the time requirement.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, holding other factors constant.

Price-elastic

Refers to the responsiveness of the demand for a good to a change in its price; highly price-elastic goods see significant changes in demand when prices fluctuate.

Shifts to the Right

A phrase indicating an increase in supply or demand in economic graphs, typically showing improvement or growth.

Price Effect

Refers to the impact on consumer demand or the quantity demanded of a good when its price changes, holding other factors constant.