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Using the legend provided, classify each statement accordingly. In all cases, assume that taxable income is being adjusted to arrive at current E & P for 2015.
a.Increase
b.Decrease
c.No effect
-Meal and entertainment expenses not deducted in 2015 because of the 50% limitation.
Stock
Shares of ownership in a company, representing a claim on the company's assets and earnings.
Primary Inventory Management
Refers to the basic approaches and strategies businesses use to control their goods, materials, and products to ensure availability while minimizing costs.
Distribution Center
A specialized building designed for storing and sorting products to facilitate their distribution to retailers, wholesalers, or directly to consumers.
Best-seller
A product or book that has achieved significant sales figures compared to others in its category.
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