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Please explain the statement that "a LIFO liquidation creates 'phantom' income".
Dividends
Distributions of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.
Journal Entries
Recorded transactions in the accounting system that show the effects of financial events on the accounts of a company.
Investment Account
An account held at a financial institution that contains securities, cash, and other investment vehicles.
Related Income
Income that arises from transactions or relationships between entities that have a special connection or are part of the same group.
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