Which of the Following Statements Is False with Respect to the Standard

question 2

Multiple Choice

Which of the following statements is false with respect to the standard mileage rate?

• A)The standard mileage rate encompasses depreciation.
• B)Section 179 cannot be used on a standard mileage rate auto.
• C)The taxpayer can have an unlimited number of autos and use the mileage rate.
• D)The standard mileage rate cannot be used on a taxi.

---

Definitions:

Right Thing

A moral or ethical action considered correct or beneficial in a given situation.

American International Group (AIG)

A multinational finance and insurance corporation headquartered in New York, known for its extensive global insurance operations.

Ethical Business Practices

These are moral guidelines that inform how a business operates, ensuring fairness, transparency, and integrity in its dealings.

Social Responsibility

The concept that businesses should operate in a manner that benefits society at large, considering the impact of their activities on the environment, consumers, employees, communities, and stakeholders.