The IRS Has Approved Only Two Per Diem Methods to Substantiate

question 93

True/False

The IRS has approved only two per diem methods to substantiate travel expenses,the high-low method and the meals and incidental expenses method.

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Definitions:

Elective Surgical Procedure

A surgery that is scheduled in advance because it does not involve a medical emergency.

Equilibrium Price

The cost at which the amount of a product or service that buyers want matches the amount that sellers provide, resulting in a balanced market situation.

Immediate Price

The current price of a good or service at which it can be bought or sold instantly.

Medical Technology

The application of organized knowledge and skills in the form of devices, medicines, vaccines, procedures, and systems developed to solve a health problem and improve quality of lives.