For an Expense to Be Ordinary,it Must Be Customary or Usual

question 73

True/False

For an expense to be ordinary,it must be customary or usual in the taxpayer's particular business.

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Definitions:

Growth Mind-Set

The belief that abilities and intelligence can be developed through dedication and hard work, as opposed to a fixed mindset which views them as static traits.

Wechsler's Adult Intelligence Scale

A standardized test designed to measure adult intelligence and cognitive ability.

Binet Scales

A set of tests originally developed by Alfred Binet to measure intelligence and cognitive ability in children.

Fixed

Something that is securely attached or set in a specific position that does not move or change.