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    Essentials of Federal Taxation
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    Exam 6: Individual for Agi Deductions
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    The Phrase "Ordinary and Necessary" Means That an Expense Must
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The Phrase "Ordinary and Necessary" Means That an Expense Must

Question 7

Question 7

True/False

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

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