1.

As long as an expenditure is properly approved by the owners of a business, there is no limit on its deductibility for tax purposes.

Group of answer choices

True

False

2.

Karla received a $5,000 dividend check from IBM. If she gives the check to her son to pay for his college tuition, her son will include the dividend income in his gross income for tax purposes instead of Karla.

Group of answer choices

True

False

3.

The federal individual income tax is a progressive tax, while most state sales taxes are proportional.

Group of answer choices

True

False