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Income That Is Included in Net Income Per Books but Not

question 108

True/False

Income that is included in net income per books but not included in taxable income is a subtraction item on Schedule
M-1.


Definitions:

Unit Price

The cost per unit of quantity, making it easier to compare the cost of items that are sold in different quantities.

Ounce

A unit of weight in the avoirdupois system, equal to 1/16 of a pound or approximately 28.35 grams.

Loaf

A shaped mass of baked bread.

Proportion

An equation that states that two ratios are equal.

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