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Selecting the correct industry code for a business is important because: A)It can predict the coming year's income. B)It can be used as a benchmark

Selecting the correct industry code for a business is important because:

A)It can predict the coming year's income.

B)It can be used as a benchmark for what expenses are ordinary and necessary in that industry.

C)It can estimate taxes.

D)It can tie into the unemployment rate.

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