Illegal Bribes and Kickbacks Are Not Deductible as Business Expenses

question 81

True/False

Illegal bribes and kickbacks are not deductible as business expenses but fines imposed by a governmental unit are deductible as long as the fines are incurred in the ordinary course of business.
No deductions are allowed for expenditures against public policy.

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Definitions:

Dominant Type

Refers to a personality style characterized by assertiveness, competitiveness, and a tendency to seek control over situations and others.

Social Interest

A concept in Adlerian psychology referring to an individual's attitude towards and concern for the welfare of others.

Inferiority

A feeling of being less than, inadequate, or not meeting the standards set by oneself or society.

Superiority

A sense or condition of being above or better than others, often manifesting in social, physical, or psychological domains.