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Question 21 1 The FASB basic accounting for deferred income taxes and leases reflects its basic revenue/expense philosophy. True False Question 22 1 A company

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Question 21 1 The FASB basic accounting for deferred income taxes and leases reflects its basic revenue/expense philosophy. True False Question 22 1 A company records an unrealized loss on equity securities investments. This would result in a temporary difference between book and taxable incomes. True False

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