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Dylan, Ryan, and Eddie Are Small-Business Owners Who Use Microsoft

question 3

Multiple Choice

Dylan, Ryan, and Eddie are small-business owners who use Microsoft Word to create various types of documents. They are attending a workshop designed to teach them how to customize the look of the documents that they create.
-Dylan would like to be able to create a letterhead with an address and logo and then insert that into a wide range of other documents. What type of construct should he create?

Definitions:

Deferred Tax Liability

A tax obligation that a company owes in the future due to timing differences between its taxable income and its accounting income.

Accelerated Depreciation

A method of depreciation that allows a business to write off the cost of an asset more quickly in the early years of its useful life.

Taxable Income

The amount of income used to determine an individual or corporation's income tax liability, after deductions and exemptions.

Accrued Warranty Costs

Costs anticipated for the future repair or replacement of products, recognized in financial statements before the costs are actually incurred.