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Which of the Following Statements Is NOT True

question 44

Multiple Choice

Which of the following statements is NOT true?


Definitions:

Financial Year

A financial year is a 12-month period used for calculating annual financial statements in businesses and other organizations.

Capital

Financial assets or resources that individuals or companies use to fund their operations and invest in their growth.

Tax Deduction

An expense that can be subtracted from gross income to reduce the taxable income, resulting in lower taxes owed.

Legally Guaranteed

Ensured or secured by law; having legal promise or assurance.

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