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:

Stock Ownership

Holding shares in a corporation, giving the shareholder a claim on part of the company's assets and earnings.

Price Appreciation

The increase in the value of an asset or security over time.

Expected to Pay

The anticipated amount of money that will be disbursed for liabilities, services, or goods acquired.

Require a Return

The expectation of financial gain on an investment, which can manifest as interest, dividend, or capital appreciation.