0) 10) Assume a company pays tax at a rate of 15% on its first $50,000 of income. Any income above $50,000 is taxed at 25%. Ifa company has $75,000 of taxable income. which of the following statements is correct? A) Its average tax rate is 18.33%. C) Its marginal tax rate is 1 5%. B) Its average tax rate is 25%. D) Its marginal tax rate is 18.33%. 11) What is the fundamental difference between IFRS and GAAP? A) GAAP relies more on specific rules and the spirit of the rules. B) GAAP relies more on general principles as well as the spirit of those rules. C) GAAP relies more on general principles but ignores the spirit of those principles. D) GAAP relies more on specific rules but not the spirit of the rules. 12) Which of the folowing could account for a firm that has a negative net income, yet has 12) a positive amount of cash provided by operations? A) The net loss was greater than the amount of depreciation expense. B) The cash balance increased significantly C) Accounts receivable decreased by significantly more than accounts payable. D) Inventory increased significantly more than accounts payable