Which of the following is not a correct statement about federal income taxes? A)...
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Accounting
Which of the following is not a correct statement about federal income taxes?
A) Corporations pay federal income taxes but partnerships do not.
B) Because of differences between tax rules and GAAP, the amount reported by a corporation as an expense may differ from the amount of taxes paid.
C) Federal income taxes are an expense of the seller.
D) All of these are correct statements about federal income taxes.
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