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Which of the following statements about the principle of forfeiture is false?
Depreciation
The accounting process of allocating the cost of tangible assets over their useful lives, reflecting the decrease in value of the asset over time.
Tax Rate
The fiscal share individuals or corporations surrender as tax.
Interest Expense
The cost incurred by an entity for borrowed funds, often reported on the income statement.
Net Income
The company's net income following the subtraction of all costs, taxes, and financial losses.
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