Question: a m - 1 ( 0 2 0 6 ) - Requires ted: Feb 6 at 8 : 1 9 am iz Instructions Question 1

am-1(0206)- Requires
ted: Feb 6 at 8:19am
iz Instructions
Question 15
Which one of the following statements is correct assuming accrual accounting is used?
Depreciation increases the marginal tax rate.
The addition to retained earnings is equal to net income plus diyidends paid.
Credit sales are recorded on the income statement when the cash from the sale is collected.
The labor costs for producing a product are expensed when the product is sold.
Interest is a non-cash expense.
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a m - 1 ( 0 2 0 6 ) - Requires ted: Feb 6 at 8 :

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