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In computing net business income for income tax purposes, which of the following statements is...

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Question

Accounting

In computing net business income for income tax purposes, which of the following statements is INCORRECT?
Question 3Answer
a.
Income tax paid is not allowed as a business deduction.
b.
Depreciation is not allowed as a business deduction.
c.
Capital cost allowance is not allowed as a business deduction.
d.
An arbitrary reserve is not allowed as a business deduction.

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