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Which of the following statements is true? Capitalizing involves recording an outlay as an asset and allocating (depreciating the cost over future time periods. Expensing

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Which of the following statements is true? Capitalizing involves recording an outlay as an asset and allocating (depreciating the cost over future time periods. Expensing involves recognizing an outlay as an expense for tax purposes at the time it is incurred. Investment tax credit refers to a credit against taxes due that is based on the amount of new capital outlays. All of these

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