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N76 [4]
4 years ago
10

Ordinary and necessary business expenses are deductible only to the extent they are also reasonable in amount.

Business
1 answer:
marysya [2.9K]4 years ago
8 0

Answer:

True

Explanation:

According to the IRS:

  • ordinary expenses are expenses that are common and accepted in a company's trade or industry.
  • necessary expenses are expenses that help your company carry on its normal business.

Tax deductible expenses must be ordinary, necessary, and reasonable.

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Both Smith and Ricardo believed that, in a competitive market, product prices reflect Multiple Choice the combined costs of many
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6 0
3 years ago
Bronson Manufacturing is planning to issue $12 million in bonds. Based on a poll of potential investors, they have the highest c
Ne4ueva [31]

Answer:

Option A

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Option  B      

total interest  =  7.25% x $1,000 x 4 years = $290

Option C

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Explanation:

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