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Which of the following best completes the sentence about indirect expenses? Expenses indirectly allocable to both taxable and tax-exempt income are: Allocated between taxable and
Which of the following best completes the sentence about indirect expenses? Expenses indirectly allocable to both taxable and tax-exempt income are:
Allocated between taxable and tax-exempt income.
Nondeductible.
Allocated only to taxable income.
Allocated only to tax-exempt income.
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