The Business Purpose Concept Means

question 58

Multiple Choice

The Business Purpose Concept means
I.that the economic purpose of the transaction must exceed the tax avoidance motive.
II.that the taxpayer's dominant motive for an expenditure is to reduce taxation.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Epilepsy

A neurological disorder characterized by recurrent, unprovoked seizures due to abnormal brain activity.

Manic Episodes

Periods of abnormally elevated mood, energy, and activity levels, often associated with bipolar disorder, characterized by an excessively good mood, increased talkativeness, and hyperactivity.

rTMS

Repetitive Transcranial Magnetic Stimulation, a non-invasive procedure that uses magnetic fields to stimulate nerve cells in the brain.

ECT

Electroconvulsive Therapy (ECT) is a medical treatment most commonly used for patients with severe major depression or bipolar disorder that has not responded to other treatments.