Explain whether the following statements are facts: Canberra is 320 kilometres from Sydney Depreciation expense for Company
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Question:
Explain whether the following statements are facts:
- Canberra is 320 kilometres from Sydney
- Depreciation expense for Company X for 2008 was $1294000. (This is the amount reported on the income statement)
- Smoking leads to lung cancer
- Sales revenue for Telex Ltd for 2009 was $2800000 (this is the amount reported on the income statement)
- Equipment (net of accumulated depreciation of $400000) for Mc Nair Ltd for 2008 was worth $1800000. (this is the amount reported on the statement of financial position)
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