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Which of the following statements about tax is true? Select one: Tax expense is the amount paid during the period Tax expense is the amount

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Which of the following statements about tax is true? Select one: Tax expense is the amount paid during the period Tax expense is the amount of liability on the balance sheet at the end of the period The effective tax rate is the tax paid divided by profit before tax The marginal tax rate is the federal tax rate plus any state taxes in the US

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