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If reported profits are reduced by$6,000 in year one because of the operation ofconservatism: A. profits in later years must be$5,000 lower. B. profits in
If reported profits are reduced by$6,000 in year one because of the operation ofconservatism:
A. profits in later years must be$5,000 lower.
B. profits in later years will be$6,000 higher.
C. profits in later years will be unaffected.
D. none of the above
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