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Test results help educators make decisions about which of the following?
Tax Deductible
Expenses that can be subtracted from gross income to reduce the taxable income.
Warranty Liability
An obligation reported on a company's balance sheet that represents the estimated costs of fulfilling the terms of warranties offered on products sold.
Deferred Tax
The amount of income tax payable/recoverable in future reporting periods in respect of temporary differences and tax losses.
Balance Date
The date on which a company's financial year ends and financial statements are prepared to reflect the company's financial position.
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