Which of the Following Is Not a "Trade or Business

question 27

Multiple Choice

Which of the following is not a "trade or business" expense?

• A) Interest on business indebtedness.
• B) Property taxes on business property.
• C) Parking ticket paid on business auto.
• D) Depreciation on business property.
• E) All of the above are "trade or business" expenses.

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Definitions:

Bailee

The person to whom personal property is transferred under a contract of bailment.

Bailor

The person who transfers personal property under a contract of bailment.

Borne

Carried or transported by the thing specified; often used to indicate who bears the responsibility for paying costs or charges.

Chattel

Personal property that can be moved from one place to another, such as furniture or vehicles.