[APPENDIX] Deferred income taxes arise because
a. corporations often make errors in their tax estimations.
b. companies can use accounting methods that minimize net income for tax purposes and other methods that maximize net income for reporting to shareholders.
c. the IRS owes a company a refund from last year.
d. large corporations generally have operations in foreign countries whose tax law is quite different from U.S. tax law.
b
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The ratio of the sum of cash, receivables, and marketable securities to current liabilities is referred to as the current ratio
a. True b. False Indicate whether the statement is true or false
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