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7. The traditional income statement deducts income taxes from taxable income. The Reformulated Income Statement handles income taxes in the same manner. a. True b.

7. The traditional income statement deducts income taxes from taxable income. The Reformulated

Income Statement handles income taxes in the same manner.

a. True b. False

8. The Treasurers Rule C-I=d + F can be interpreted as Free Cash Flow is equal to Cash flow from

Financing.

a. True b. False

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