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What is the effect on income

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Question - The Kuttner Corp issued in 2014 for violating patent laws. In 2014, the kuttner corp decides that a loss is probable, and records an expense of $23 million. What is the effect on income in 2016 if the case is settled in that year for:

A. $23 million

B. $20 million

C. $30 million

Reference no: EM132138520

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