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ASC 2 7 4 requires an estimated income tax liability be calculated for personal financial statements. Which of the following is the formula for computing
ASC requires an estimated income tax liability be calculated for personal financial statements. Which of the following is the formula for computing the liability: a tax basis of net assets X capital gain tax rate b hypothetical gain X tax rate c esimated current value of the net assets X marginal tax rate d net realizable value x estate tax rate
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