In fiscal 20X9, Miso Corp. reported a statutory tax rate of 35% and an effective...
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In fiscal 20X9, Miso Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The 20x9income statement reported income tax expense of $2,593 million. What did Miso Corp. report as income before income tax expense that year? AS 7.409 million B. $12,348 million C. $12.965 million 0.51727 million E None of the above Question 11 Which one of the following would be considered a contingent liability? O A. A company estimates that it will probably have to pay $75,000 to the EPA for a chemical spill B. A company owes $35,000 on inventories purchased on credit OC. A company has access to a line of credit with a bank in the amount of S120,000 D. A company believes that it is reasonably possible it will lose a lawsuit and damages could be $100,000 E. None of the above Question 12 Which of the following would NOT be considered an intangible asset? A. Trademarks and internet domain names B. Plant, Property, and Equipment C. Patents, computer software, databases and trade secrets OD. Customer lists, production backlog, and customer contracts C E. All of the above are intangible assets
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