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State whether it is true or false for the following : 15. 16....

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Accounting

State whether it is true or false for the following :

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15. 16. An expense is "ordinary" if it is appropriate, helpful, or capable of making a contribution to the taxpayer's profit seeking activity. An individual may not elect to use ACRS depreciation in lieu of the applicable MACRS rules. Employee business expenses are no longer deductible by the employee. 17

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