10. Which of the following statements is true? A. Tim pays his brother $50,000 for a job that should cost $20,000. Tim takes $50,000 as a business deduction on Schedule C. B. Mary used loan proceeds to purchase tax-exempt municipal bonds Mary claims interest associated with this borrowing as a business expense on Schedule C. C. Bob purchases a membership in a country club to entertain clients. Bob deducts this cost on schedule C as a business expense. D. John takes a Il day, vacation to Hawaii from his in Chicago. He decides to attend a day, seminar. John deducts 10% of his travelling costs as business expense on his Schedule C. E. All the above are false