Progress:$50/55$ items

Question Content Area

Both economic and social considerations can be used to justify:

a$.$ Disallowance of any deduction for expenditures deemed to be contrary to public policy $($e$.$g$.,$ fines, penalties, illegal kickbacks, bribes to government officials$).$

b$.$ Various tax credits, deductions, and exclusions that are designed to encourage taxpayers to obtain additional education.

c$.$ Allowance of a deduction for state and local income taxes paid.

d$.$ Favorable tax treatment for accident and health plans provided for employees and financed by employers.