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The Adjusting Entry to Recognize Income Taxes Due on a Profit

Question 15

Multiple Choice

The adjusting entry to recognize income taxes due on a profit of $100,000 and a tax rate of 40% is: The adjusting entry to recognize income taxes due on a profit of $100,000 and a tax rate of 40% is: A) A Above. B) B Above. C) C Above. D) D Above.


A) A Above.
B) B Above.
C) C Above.
D) D Above.

Correct Answer:

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