Holly took a prospective client to dinner, and after agreeing to a business deal, they went to
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Question:
Holly took a prospective client to dinner, and after agreeing to a business deal, they went to the theater. Holly paid $360 for the meal and $222 for the theatre tickets, amounts that were reasonable under the circumstances. What amount of these expenditures can Holly deduct as a business expense?
A: $279
B: $119
C: $160
D: $558
F: None - the meals and entertainment are not deductible except during travel.
Related Book For
Ethics in Accounting A Decision Making Approach
ISBN: 978-1118928332
1st edition
Authors: Gordon Klein
Posted Date: