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Which statement is false? Group of answer choices A. Any economic income is gross...

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Accounting

Which statement is false? Group of answer choices

A. Any economic income is gross income unless the taxpayer can identify a specific exclusion.

B. Any economic outlay is a deduction unless the IRS can identify a specific exception.

C. A taxpayer must show that an outlay is deductible and substantiate the amount of the deduction.

D. There are business deductions available outside of I.R.C. 162.

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