According to the Internal Revenue Code §162, Deductible Trade or Business

question 63

Multiple Choice

According to the Internal Revenue Code §162, deductible trade or business expenses must be which one of the following?

• A)Incurred for the production of investment income
• B)Ordinary and necessary
• C)Minimized
• D)Appropriate and measurable
• E)Personal and justifiable

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Definitions:

Organic Product

A compound or substance that is the result of an organic chemical reaction.