Answered

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Which of the following is true about expenses on the income statement?
A. Depreciation expense is noncash; taxes are cash; depreciation expense comes before taxes are calculated which is good since this results in a lower taxable income.
B. Depreciation expense is noncash; taxes are cash; depreciation expense comes after taxes are calculated which is good since this results in a lower taxable income.
C. Depreciation expense is cash; taxes are noncash; depreciation expense comes before taxes are calculated which is good since this results in a lower taxable income.
D. Depreciation expense is cash; taxes are noncash; depreciation expense comes after taxes are calculated which is good since this results in a lower taxable income.

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