The Fact That Tax Laws Allow Individuals or Companies to Deduct

question 57

Multiple Choice

The fact that tax laws allow individuals or companies to deduct from their taxable incomes any money they can justify as an investment or a "business expense" is an example of a(n)

• A)cap-and-trade policy.
• B)monetary policy.
• C)earmark.
• D)loophole.

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Definitions:

Physical Inventories

The process of counting by hand all physical stock items in a company to verify records and reports.