The following information was taken from the 2019 annual report of Emerson, a leader in process management,
Question:
The following information was taken from the 2019 annual report of Emerson, a leader in process management, technology, network power, and industrial automation (dollars in millions):
INSTRUCTIONS:
Comment on whether Emerson's financial accounting methods have been conservative or aggressive across the three-year period.
Transcribed Image Text:
2019 2018 2017 Net income before taxes $2,306 $2,203 $1,518 Income tax expense: Current 579 693 702 Deferred (48) (250) $ 443 (42) Total $ 531 $ 660 Effective tax rate 0.186 0.166 0.283
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Emersons accounting methods have been conservative across the threeyear period Explanation Accountin...View the full answer
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