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The occurrence that most likely would have no effect on 2007 net income is the:

a) sale in 2007 of an office building contributed by a stockholder in 1961

b) collection in 2007 of a dividend from an investment.

c) correction of an error in the financial statements of a prior period discovered subsequent to their issuance.

d) stock purchased in 1993 deemed worthless in 2007

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9417256

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