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The Following Is Selected Information from L Corporation for the Fiscal

Question 278

Multiple Choice

The following is selected information from L Corporation for the fiscal year ending October 31, 2014. The following is selected information from L Corporation for the fiscal year ending October 31, 2014. Based on the accrual basis of accounting, what is L Corporation's net income for the year ending October 31, 2014? A) $204,000 B) $174,000 C) $158,000 D) $220,000 Based on the accrual basis of accounting, what is L Corporation's net income for the year ending October 31, 2014?


A) $204,000
B) $174,000
C) $158,000
D) $220,000

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