Which of the Following Expenses, If Any, Qualify as Deductible

question 48

Multiple Choice

Which of the following expenses, if any, qualify as deductible?

• A)Contributions to a Coverdell Education Savings Account (CESA).
• B)Contributions to a qualified tuition program (§ 529 plan).
• C)Job-hunting expense of FBI agent who applies for the job of city manager of Beaumont, TX.
• D)Contribution to a traditional IRA.
• E)None of these.

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Definitions:

Bar Chart

A graphical representation using bars to show comparisons among categories or variables.

Sales Revenues

The income received from selling goods or services over a period of time before any costs or expenses are deducted.

Points of Difference

Unique attributes or benefits of a product or brand that set it apart from competitors in the eyes of customers.

High-Quality

The standard of something as measured against other things of a similar kind; the degree of excellence of something.