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When determining profit for tax purposes, a general principle is? ...

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Finance

When determining profit for tax purposes, a general principle is?

a.

Generally accepted accounting principles (GAAP) are used.

b.

Expenses paid are matched to revenues earned for the same taxation year.
c.

To obtain an accurate picture of the profit for a taxation year.
d.

The Income Tax Ac defines all the rules that must be followed.

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