For an Expense to Be Necessary,it Must Be Essential to the Taxpayer's

question 14

True/False

For an expense to be necessary,it must be essential to the taxpayer's business.

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Definitions:

Organization's Performance

A measure of how well an organization achieves its set objectives and goals through efficient and effective use of resources.

Local Supplier

A business that provides products or services to another company within the same geographic region, often to minimize logistics costs and support the local economy.

Decision-making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Effectiveness

The degree to which something achieves its desired outcome or succeeds in producing a specified result, often used in evaluating strategies, interventions, or performances.