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

question 98

True/False

The phase "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:

Maxilla

The upper jaw bone in vertebrates that forms the major portion of the face, involved in forming the boundaries of the mouth and nasal cavity.

Zygomatic

Pertaining to the zygomatic bone or zygoma, which is a part of the skull that forms the prominence of the cheek.

Lacrimal

Pertaining to tears or the tear system, including glands and ducts involved in tear production and drainage.

Ethmoid

A porous bone located between the eyes and forming part of the nasal cavities, contributing to the structure of the face and protection of the brain.