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Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
"Gentlemen's agreement"
Deductible Expenses
Expenses that can be subtracted from gross income, reducing the amount of income subject to taxation.
Financial Loss
The reduction in an organization's financial wealth, usually from expenses exceeding revenues in a given period.
Federal Income Tax Returns
Documents filed with the IRS that report earnings, expenses, and other pertinent tax information, used to calculate federal income tax liability.
Cash Dividends
Cash disbursement from a company's income to its shareholders.
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