The Phrase "Ordinary and Necessary" Means That an Expense Must

question 26

True/False

The phrase "ordinary and necessary" means that an expense must be appropriate and helpful for generating a profit.

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Definitions:

Maintenance Rehearsal

A cognitive process that involves repeatedly reviewing information to keep it in short-term memory for extended periods.

Elaborative Rehearsal

A memory technique that involves thinking about the meaning of the term to be remembered, as opposed to simply repeating the term to oneself.

Systematic Rehearsal

A deliberate practice or repetition of information to be remembered, often to move it from short-term to long-term memory.

Visuospatial Sketchpad

The visuospatial sketchpad is a component of working memory model that processes and stores visual and spatial information. It is important for navigation, understanding spatial relations, and manipulating objects in our environment.