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(TCO F) Fines and penalties paid to the government for the violation of a law are (Points : 5) generally deductible for tax purposes as

(TCO F) Fines and penalties paid to the government for the violation of a law are (Points : 5)

generally deductible for tax purposes as business expenses.

not deductible for tax purposes.

deductible if they are ordinary and necessary.

deductible if they are reasonable in amount

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