The Phrase "Ordinary and Necessary" Means That an Expense Must

question 26

True/False

The phrase "ordinary and necessary" means that an expense must be appropriate and helpful for generating a profit.

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Definitions:

Organizational Pattern

The arrangement and sequence of ideas or elements within a speech, document, or space to ensure clarity and enhance understanding.

Company's History

A chronological record of events, developments, and achievements related to the establishment and growth of a company.

Chronological

Arranged in order of time, from the earliest to the latest events or moments.

Graphics

Visual elements such as illustrations, charts, and diagrams used to complement, explain, or emphasize textual information.