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Which of the following statements best represents the analysis of a service project using the income and cash flow statements? 1 - You do not

Which of the following statements best represents the analysis of a service project using the income and cash flow statements?

1 - You do not need to calculate taxes since you won't owe additional taxes on service projects

2 - You would never be profitable with a service project therefore you don't need to build the financial statements to decide investment worthiness

3 - Net income will be negative because annual revenues are $0

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