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In computing net business income for income tax purposes, which of the following statements is INCORRECT? a . Income tax paid is not allowed as
In computing net business income for income tax purposes, which of the following statements is INCORRECT?
a Income tax paid is not allowed as a business deduction.
b Depreciation is not allowed as a business deduction.
c Capital cost allowance is not allowed as a business deduction.
d An arbitrary reserve is not allowed as a business deduction.
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Fundamental Cornerstones Of Managerial Accounting
Authors: Dan L. Heitger, Maryanne M. Mowen, Don R. Hansen
1st Edition
0324378068, 9780324378061
