If a Corporation Does Not Choose to Amortize Its Organizational

question 187

True/False

If a corporation does not choose to amortize its organizational expenditures, such expenses can never be deducted.

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Definitions:

Instrument Void

A legal term indicating that a document, typically a contractual agreement, is null and has no legal effect.

Holder In Due Course

A person who has acquired a negotiable instrument in good faith and for value, and thus has certain rights above the original issuer or transferrers.

Altered

Changed or modified, often referring to a document that has been tampered with or adjusted in some way.

Possessory Interest

A right or interest in property that allows the holder physical control or occupancy of the property.