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I have another concern: Example 2 of Income Tax: Page 392 of CFAI text.
4. Account receivable on page 393 (last line)…gives the calculation as … [25% x (1500000+125000)]….BUT the problem stated “25 percent of the gross amount for doubtful debt”….(1,500,000+125,000) cant be the gross doubtful debt…isnt it? Please advice. |
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