A Business Expense Includes

question 2

Multiple Choice

A business expense includes
I.an expenditure that satisfies the dominant profit-motive requirement.
II.an expenditure that is incurred in a trade or business activity.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Elements of Negligence

Refers to the essential components required to establish negligence in a legal context, typically including duty, breach, causation, and damages.

Duty

An obligation required by one's position, societal norms, or law, to conduct oneself in a certain manner.

Breach

The violation of a law, duty, or other form of agreement, often leading to legal action or sanctions.

Comparative Negligence

A legal doctrine that allocates damages based on the degree of fault or negligence of each party involved in an incident, reducing compensation accordingly.