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Question 16 of 35. Which of the following statements is FALSE? The income statement reflects one accounting period. The balance sheet reflects the cumulative results

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Question 16 of 35. Which of the following statements is FALSE? The income statement reflects one accounting period. The balance sheet reflects the cumulative results of the business. Income and deductions reported on the income statement may not match the tax return amounts. Changes in owner's equity are reflected in the income statement. Mark for follow up

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