76) Under the Internal Revenue Code, personal living expenses are generally not deductible. TRUE or FALSE

78) The Section 179 immediate expense election is available to the taxpayer on the purchase of a business building. TRUE or FLASE

79) The highest level of administrative interpretations of the tax law are the Treasury Regulations. TRUE or FLASE

80) Hobby losses are not deductible because hobbies lack the profit motive. TRUE or FLASE

81) To be deductible, business education expenses must not qualify the taxpayer for a new trade or business. TRUE or FLASE