Which of the Following Is/are Trade or Business Expenses

question 113

Multiple Choice

Which of the following is/are trade or business expenses?
I.Solly incurs legal expenses related to real estate he leases to Bucko Burger Hamburger Haven for a parking lot. Solly does little but negotiate the lease every year..
II.Susan owns several rental apartments. She negotiates new rental contracts, arranges for repairs and maintenance, and handles all leasing activities.
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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:

Trachea

The windpipe, a tube that connects the larynx to the bronchi of the lungs, allowing for air passage.

Vocal Cords

Tissue bands in the larynx that vibrate to produce sounds for speech and communication.

Cardiopulmonary Resuscitation (CPR)

An emergency procedure that combines chest compressions with artificial ventilation to manually preserve brain function until further measures to restore spontaneous blood circulation and breathing in a person who is in cardiac arrest.

Brittle Bones

A common term for Osteoporosis, a condition characterized by weakened bones that are more susceptible to fracture.