In Order for an Expense to Be Ordinary,it Must Be

question 56

True/False

In order for an expense to be ordinary,it must be reasonable in amount and it must bear a reasonable and proximate relationship to the income-producing activity or property.

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Definitions:

Industry

A segment of the economy involving the production and sale of a certain set of goods or services.

Nash Equilibrium

A situation in game theory where no player can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.

Super Bowl

An annual championship game in American football that determines the National Football League (NFL) champion.

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