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    Business
  3. Study Set
    Taxation of Individuals
  4. Exam
    Exam 9: Business Income, Deductions, and Accounting Methods
  5. Question
    The Internal Revenue Code Authorizes Deductions for Trade or Business
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The Internal Revenue Code Authorizes Deductions for Trade or Business

Question 73

Question 73

True/False

The Internal Revenue Code authorizes deductions for trade or business activities if the expenditure is "ordinary and necessary."

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