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QUESTION 11 Which one of the following statements is correct assuming accrual accounting is used? O Depreciation increases the marginal tax rate. O Credit sales
QUESTION 11 Which one of the following statements is correct assuming accrual accounting is used? O Depreciation increases the marginal tax rate. O Credit sales are recorded on the income statement when the cash from the sale is collected. O The labor costs for producing a product are expensed when the product is sold. O Interest is a non-cash expense. O The addition to retained earnings is equal to net income plus dividends paid
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