$27.000 QUESTION 53 Which of the following statements is true? The exclusion for scholarships and fellowships applies only to undergraduate students. 2.5 points Save Ang O Lobbying expenses may be deductible. The ordinary, necessary, and reasonable expenses of a cocaine dealer are deductible. O Political contributions are never deductible. 2.5 points Save Answer QUESTION 54 Ron is the manager of Eat Well, a local restaunt of the following employee benefits paid by his employer, which one is completely nontaxable to Ron? O Group-term life insurance coverage of 590.000 Tuition reimbursement of $10,000 for undergraduate courses Ron took during the year 51.000 Christmas bonus 56,000 in employer-provided meals furnished in kind for the employers convenience 2.5 points Save Antwer QUESTION 55 Which of the following entities is generally not required to have the same tax year-end as that of its owners/beneficiaries? Partnership Os corporation o corporation Trust Click Save and Submit to save and submit. Click Save All Answers to save all answers. SVE AT A Save and Submit