which of the following characteristics are required for a business expense to be deductible? (check all that apply.)

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14-11-2022
Business

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which of the following characteristics are required for a business expense to be deductible? (check all that apply.)

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kumarkrishna kumarkrishna · Answer 1 · 2022-11-19T11:09:39+01:00

Ordinary, Necessary, and Directly related to the business activity are required for a business expense to be deductible.

The deductible is the sum that must first be paid out of pocket by the policyholder before the insurance company will cover any costs. The term "deductible" can be used to refer to any one of a number of clause types that insurance companies use to set the minimum amount that must be paid under a policy.

A business is a enterprising organization or entity that engages in commercial activity. They may be industrial, commercial, or other types. Businesses that are for profit operate with the intention of making a profit, while those that are nonprofit focus on charitable purposes. The sole proprietorship, partnership, corporation, and S corporation are the four business structures that are used the most.

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