A Marginal Change Is a

question 41

Multiple Choice

A marginal change is a

• A)change that involves little,if anything,that is important.
• B)large,significant adjustment.
• C)change for the worse,and so it is usually a short-term change.
• D)small,incremental adjustment.

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Definitions:

Income Tax Expense

The amount of money a company owes in taxes based on its taxable income for a given period.

Income Taxes Payable

Represents the amount of taxes on income that a company owes to the government but has not yet paid.

Accounts Payable

Short-term financial obligations to suppliers or creditors for goods and services received but not yet paid for.

Equipment

Tangible assets used in the operation of a business, not intended for sale.