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Which ONE of the following statements is FALSE? Firms report peripheral gains and losses on a pretax basis. If you eliminate a gain or loss,
Which ONE of the following statements is FALSE? Firms report peripheral gains and losses on a pretax basis. If you eliminate a gain or loss, you should also eliminate the related tax effect from income tax expense. Announcements of restructurings are typically associated with stock price increases. Restructurings are expected to yield operating efficiencies or strategic benefits and, thus, will result in higher future expenses and lower future revenues. Firms revalue certain assets and liabilities each period even though firms have not yet realized the value change in a market transaction. The related unrealized gains and losses are reported as comprehensive income
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