Which of the Following Business Expenses Is/are Subject to a 50

question 135

Multiple Choice

Which of the following business expenses is/are subject to a 50% deduction limit for 2016?
I.Meals while traveling
II.Lodging while traveling
​

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

---

Definitions:

UEFI

Stands for Unified Extensible Firmware Interface, a modern type of firmware interface for computers, providing a more secure and faster boot process compared to BIOS.

BIOS

Basic Input/Output System, firmware used to perform hardware initialization during the booting process, and to provide runtime services for operating systems and programs.

Setup

Software that tells a computer about itself and the hardware it supports, such as the amount of RAM memory, type of hard drive installed, current date and time, and so on.

Control Panel

A Windows utility that allows computer configuration such as adding or removing software, adding or removing hardware, configuring a screen saver, adjusting a monitor, configuring a mouse, installing networking components, and so on.