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

question 11

Multiple Choice

Which of the following business expenses is/are subject to a 50% deduction limit for 2013?
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:

Benefit

An advantage, improvement, or gain received from a product or service, contributing to the satisfaction or well-being of a customer.

Tennis Racquet

A sports equipment specifically designed for the game of tennis, consisting of a handled frame with an open hoop across which a network of strings or catgut is stretched tightly.

Economic Need

A requirement for something essential related to the well-being or financial stability of an individual or society.