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Which of the following is FALSE about the 7 × 7 guideline for presentations?
Tax Rate
The rate at which taxes are levied on a person or a business entity.
Depreciable Non-Current Asset
A long-term asset subject to depreciation, reflecting its wear and tear, obsolescence, or reduction in useful life over time.
Useful Life
The estimated period over which an asset is expected to be used before it is fully depreciated and considered no longer useful for business operations.
Tax Rate
The proportion of income that is charged as tax to a person or company.
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