Taxable income from business operations

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Reference no: EM13124407

Which of the following statements most accurately defines taxable income from business operations?

a. Gross income from the sales of goods or performance of services less allowable deductions.

b. Gross income from whatever source derived less allowable deductions.

c. Revenues from business transactions less expenses.

d. Gross income from whatever source derived less expenses.

Reference no: EM13124407

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