A taxpayer who uses the automatic mileage method to compute auto expenses can also deduct the business portion of tolls and parking
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: Such costs are deductible under both methods.
Business
You might also like to view...
A customer's check for $1,270 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF check?
A) Accounts Receivable 1,270 Cash 1,270 B) Cash 1,270 Sales Revenue 1,270 C) NSF Check 1,270 Cash 1,270 D) Accounts Payable 1,270 Cash 1,270
Business
An argument in support of corporate liability is the fact that corporate personnel are expendable
Indicate whether the statement is true or false
Business