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Which of the following statements is least correct? a. The word incurred is not defined in income tax legislation. b. The word incurred for tax
Which of the following statements is least correct?
a. | The word incurred is not defined in income tax legislation. | |
b. | The word incurred for tax purposes is associated with expenses. | |
c. | Ordinary income is included in a taxpayers assessable income when it is derived. | |
d. | The word derived for tax purposes is associated with income. | |
e. | The word derived gets its meaning from income tax legislation. |
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