QUASI-BUSINESS EXPENSES Definition

QUASI-BUSINESS EXPENSES are those tax deductible expenses that could qualify as a personal or business expense dependent upon the situation, e.g. lavish automobiles, country club dues or dubious travel expenses.

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ACCRUED LIABILITY are liabilities which are incurred, but for which payment is not yet made, during a given accounting period. Some examples in a manufacturing environment would be: wages, taxes, suppliers/vendors, etc.

CONDUCIVE is tending to bring about or being partly responsible for, e.g. current working conditions may not be conducive to productivity.

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