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Matching
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 2019.
-Federal income tax refunds from tax paid in prior years.
Variable Costs
Costs that change in proportion to the level of goods or services that a business produces.
Profit
The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
Variable Cost
A cost that depends on the level of production chosen.
Marginal Revenue
The incremental gain in revenue achieved by a company for selling an additional unit of product or service.
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