Which of the Following Is a True Statement

question 17

Multiple Choice

Which of the following is a true statement?

• A)Meals are never deductible as a business expense.
• B)An employer can only deduct half of any meals provided to employees.
• C)The cost of business meals must be reasonable.
• D)A taxpayer can only deduct a meal for a client if business is discussed during the meal.
• E)None of these is truE.Employee meals can be fully deductible as compensation and meals merely need to be associated with the conduct of business.

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Definitions:

Required Action

A specific action that is mandated or obligatory under the terms of a contract, law, or directive.

Cloud Computing

Internet-based computing where data, software, and processing power are accessed over the web, rather than from personal computers or servers.

Cyber-Technique

Methods or approaches that utilize digital technology and cybernetics for achieving specific objectives or solving problems.

Serious Intent

A legal concept indicating that a party has a genuine and earnest intention to enter into a binding contract.