Which is the following statement is NOT true? Question 5Answer a. Depreciation of property that is used in business and has a useful life is generally deductible. Allowance depreciation not taken in a prior year cannot be taken in the current year. b. For an expense to be deductible, it must be both ordinary and necessary. c. For a revenue to be taxable, it must be ordinary and necessary. d. Business start-up costs are expenses incurred before beginning business operations. These expenses may be deductible under certain circumstances