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IRS Code Section 482 Describes Appropriate Transfer Prices as "The

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IRS code Section 482 describes appropriate transfer prices as "the prices which would have been agreed upon between unrelated parties engaged in the same or similar transactions under the same or similar conditions in the open market." How does it refer to such prices?


Definitions:

Oil And Gas

Natural hydrocarbon resources extracted from the Earth, used as fuels and in the production of chemical compounds.

Coal

A combustible black or brownish-black sedimentary rock formed from ancient plant material, used as fuel.

Oil Shale

Oil shale is a type of sedimentary rock that contains kerogen, a solid mix of organic chemical compounds from which liquid hydrocarbons can be produced, like shale oil.

Methane

A colorless, odorless flammable gas that is the simplest member of the alkane hydrocarbons, with a chemical formula of CH4.

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