Canadian Enterprises carries on a tax consulting business in Toronto, Ontario. The income statement for 2022 includes a cost of $4,600 for the owner/operator attending three conventions during the year. Each convention includes a cost of $130 per day for meals. For convention #3, in December, airfare of $900 was included in accounts payable at the end of the year.

Comment on the deductibility of the convention expenses. 

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Convention #1 #2 #3 Date Organization February 3 Ontario Tax Foundation July 7 & 8 Canadian Tax Foundation December 14 & 15 Canadian Tax Foundation Location Toronto, ON Gander, NL Vancouver, BC Amount $1,000 1,600 2,000 $4,600