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Given that molar enthalpy of combustion of acetylene (C2H2, 26.04 g/mol) is -1299 kJ/mol at 25 C and 1 atm, which statement below is FALSE?
Valuation Allowance
An accounting procedure that an entity might use against its deferred tax assets indicating that it is more likely than not that some portion or all of the asset will not be utilized.
Trading Investments
Assets held by a firm for the purpose of selling them in the short term to generate profit from price fluctuations.
Unrealized Gain
The increase in value of an asset that has not been sold, and thus the profit has not been realized as the asset remains part of the portfolio.
Income Statement
A report that outlines a company's financial activities, including earnings, expenses, and net profit or loss, during a particular accounting timeframe.
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