In Order to Deduct a Portion of the Cost of a Business

question 8

Multiple Choice

In order to deduct a portion of the cost of a business meal which of the following conditions must be met?

• A)A client (not a supplier or vendor) must be present at the meal.
• B)The taxpayer or an employee must be present at the meal.
• C)The meal must occur on the taxpayer's business premises.
• D)None of these is a condition for a deduction.The taxpayer or employee must be present for a portion of the cost of the meal to be deductible.

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Definitions:

Sustainability

The ability to maintain or improve systems and processes in a way that ensures long-term environmental balance, social equity, and economic viability.

Environmental Sustainability

The practice of utilizing natural resources in a way that maintains ecological balance and does not deplete resources, ensuring the environment can support future generations.

Artificial Intelligence

A branch of computer science that aims to create systems capable of performing tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation.

Digitization

The conversion of text, pictures, or sound into a digital form that can be processed by a computer.