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Unless that is what the overseeing authority has determined, then no.
Your position is noted.
No valid academic purpose is served by it.
Says who? You? The overseeing authority? Screw them. You are obviously unaware that school funding is tied to attendance. School sponsored activities are not treated as absences, even in the event that the students are away from class.
Although it's impossible to prove, i believe this decision was motivated by dollars and cents.
They shouldn't be excused as no valid academic purpose is served by it.
Says who? You? The overseeing authority conflicted by financial interests?