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Using the legend provided, classify each statement accordingly. In All cases, assume that taxable income is being adjusted to arrive at current E & P for 2019.
-Charitable contribution carryforward deducted in the current year.
Planning
The process of creating strategies and outlining tasks to achieve a specific goal.
Directing
The process of guiding, leading, and managing employees in an organization to achieve its objectives.
Controlling
The process of monitoring, comparing, and correcting activities to meet organizational goals and objectives, often part of managerial accounting.
Work in Process Inventory
Inventory that includes all the materials, labor, and overhead costs for products that are in the process of being manufactured but are not yet complete.
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