Which of the following statements is true? An expense must be essential and indispensable in order to be considered "necessary Business expenses must be either "ordinary" or "necessary" in order to be deductible O An expense is not "reasonable in amount" when it is extravagant or exorbitant. If a business expense is both "ordinary" and "necessary", then it does not have to also be "reasonable in amount in order to be deductible. Which of the following is not a common deductible business expense for a sole proprietor charitable contributions wages to employees O travel O advertising O insurance O rent O supplies utilities