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At the beginning of the fiscal year, the balance sheet showed assets of $1,364 and owners' equity of $836. During the year, assets increased $74 and liabilities decreased $38.
Owners' equity at the end of the year totaled:
a) $836
b) $872
c) $948
d) $1,438
What factor(s) do U.S. taxing authorities consider to determine whether the interest is investment income not subject to U.S. taxation or business income subject to U.S. taxation?
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The amount of accrued interest payable that should be shown on the December 31, 1998 balance sheet is ?
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