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Which of the following monetary assets is likely to be least liquid?
Income Tax Expense
The cost of income taxes a company incurs, calculated based on the taxable income and tax rates applicable, reflecting the company's obligation to government revenue services.
Cash Basis
An accounting method where revenues are recognized when received and expenses when paid.
Sales Adjusted
Adjustments made to sales figures for returns, allowances, or discounts.
Direct Method
A cost allocation method that assigns costs directly to cost objects without using any intermediate cost pools or allocations.
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