Which consideration best characterizes the justification for deducting some or all of the cost of business lunches as a deviation from the Haig-Simons comprehensive income definition?

Question

Quizplus · Accepted Answer

Deducting the cost of business lunches can be justified by the cost of earning income considerations, as it is necessary to spend money on certain activities (such as business meals) in order to generate income for the business. This expenditure should therefore be taken into account as a necessary cost of doing business and deducted from income for tax purposes.

Which Consideration Best Characterizes the Justification for Deducting Some or All