Unlike Interpretative Regulations, Legislative Regulations Are Not Controlling on a Court.Thus

question 22

True/False

Unlike interpretative regulations, legislative regulations are not controlling on a court.Thus, the courts will not hesitate to substitute their own judgment for that of the Treasury Department.

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Definitions:

Business Form

Denotes the legal structure or framework chosen for the operation of a business entity, such as a corporation, partnership, or sole proprietorship.

Course of Business

The routine practices and activities that a business engages in as part of its normal operations.

Ordinary Course

Activities that are considered part of the usual operations of a business or organization.

Partners Agree

The mutual consensus among all partners in a business venture on a particular decision, action, or strategy.