How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ellen Your Own Question

Ellen, Lawyer
Category: Homework
Satisfied Customers: 36714
Experience:  Lawyer, Accountant and Researcher
Type Your Homework Question Here...
Ellen is online now
A new question is answered every 9 seconds

"Weblaw" . The Business Purpose Concept means: I. that

Resolved Question:

. The Business Purpose Concept means:

I. that the economic purpose of the transaction must exceed the tax avoidance motive.
II. that the taxpayer’s dominant motive for an expenditure is to earn a profit. (Points : 1)
Only statement I is correct.
Only statement II is correct.
Both statements are correct.
Neither statement is correct.
Submitted: 4 years ago.
Category: Homework
Expert:  Ellen replied 4 years ago.

WebLaw :

Both statements are correct.

WebLaw :

thank you.

Ellen and 3 other Homework Specialists are ready to help you

Related Homework Questions