IRS code Section 482 describes appropriate transfer prices as "the prices which would have been agreed upon between unrelated parties engaged in the same or similar transactions under the same or similar conditions in the open market." How does it refer to such prices?

Question

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Section 482 of the IRS code refers to appropriate transfer prices as "arm's length prices", which are prices that would have been agreed upon between unrelated parties under similar conditions in the open market.

IRS Code Section 482 Describes Appropriate Transfer Prices as "The