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Turn in only your scantron. This paper is yours to keep. There are 25 questions. 1. Your firm estimated warrantee expense of 10% of sales
Turn in only your scantron. This paper is yours to keep. There are 25 questions. 1. Your firm estimated warrantee expense of 10% of sales when preparing financial reporting per GAAP. That same year, actual warrantee expense was closer to 12% of sales. As a result, other things being equal: a) Your firm will have a decrease in deferred tax assets. b) Your firm will have an increase in deferred tax assets. c) Your firm will have an increase in deferred tax liabilities. T
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