All of the Following Are a Required Test for the Deduction

question 131

Multiple Choice

All of the following are a required test for the deduction of a business expense except?

• A)GAAP approved.
• B)Ordinary.
• C)Necessary.
• D)Business purpose.
• E)Reasonable in amount.

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Definitions:

Specific Training

Tailored educational or physical programs designed to enhance skills or abilities in a particular area or discipline.

Universal Attainment

A theoretical concept suggesting a level of achievement or skill acquisition that can be reached by anyone under the right conditions.

Concrete-Operational Thinking

A stage in cognitive development, as described by Jean Piaget, where children can think logically about concrete events but struggle with abstract concepts.

Memory Strategies

Memory strategies are techniques or methods used to enhance an individual's ability to encode, store, and retrieve information more effectively.