The Phrase "Ordinary and Necessary" Has Been Defined to Mean

question 116

True/False

The phrase "ordinary and necessary" has been defined to mean that an expense must be essential and indispensable to the conduct of a business.

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Definitions:

Performance Ratings

Assessments of an employee's job performance, often used for feedback, development, and decisions about promotions or raises.

Merit Pay

A compensation strategy that involves giving employees pay increases based on their performance achievements, as an incentive for productivity and excellence.

Effective Career Planning

A strategic approach to identifying one's career goals and outlining the steps and resources necessary to achieve them.

Workforce

The collective group of individuals engaged in or available for work, either in a specific company or in a country.