Given that reported past profits reflect future expectations, why may it be necessary to revise those past

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Given that reported past profits reflect future expectations, why may it be necessary to revise those past profits for such items as owner’s compensation, occupancy costs (rent), interest costs, income taxes, and so on?

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Canadian Income Taxation 2018-2019

ISBN: 9781259464294

21st Edition

Authors: William Buckwold, Joan Kitunen

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Question Posted: Oct 02, 2019 10:34 AM

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Given that reported past profits reflect future expectations, why may it be necessary to revise those past

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The stated historical profits may not reflect the actual profits from the ...View the full answer

Canadian Income Taxation 2018-2019

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