What amount of expenditures can holly deduct as expense, Accounting Basics

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What amount of expenditures can holly deduct as expense

After a meeting with a prospective client, Holly paid for dinner. After dinner, Holly took the prospective client to the theatre. Holly paid $290 for the meal and $250 for the tickets, amounts that were reasonable under the circumstances. What amount of these expenditures can Holly deduct as a business expense?

A. $540

B. $415

C. $270

D. None-the meals and entertainment are not deductible except during travel.

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Accounting Basics: What amount of expenditures can holly deduct as expense

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Accounting Basics: What amount of expenditures can holly deduct as expense

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Accounting Basics: What amount of expenditures can holly deduct as expense

Reference No:- TGS062285

Recent Questions Asked Accounting Basics

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