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If the expected sales volume for the current period is 7,000 units, the desired ending inventory is 200 units, and the beginning inventory is 300 units, the number of units set forth in the production budget, representing total production for the current period, is:
a) 7,000
b) 6,900
c) 7,100
d) 7,200
Rooney Inc. recently completed a 3-for-2 stock split. Prior to the split, its stock price was $90 per share. The firm's total market value was unchanged by the split.
The following information is available from Gray Co.'s accounting records for the year ended December 31, 2010 (amounts in million):
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Justification for the method of determining periodic deferred tax expense is base on the concept of:
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