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Which one of the following statements concerning depreciation is CORRECT? a. Depreciation increases net income b. Depreciation increases net fixed assets c. Depreciation lowers taxes

Which one of the following statements concerning depreciation is CORRECT?

	a.	Depreciation increases net income
	b.	Depreciation increases net fixed assets
	c.	Depreciation lowers taxes for a profitable firm
	d.	Depreciation has no effect on net income
	e.	Depreciation decreases net working capital

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