1.

Intraperiod tax allocation requires a corporation's total income tax expense to be allocated to all of the following except

a. prior-period adjustments.

b. discontinued operations.

c. any items of other comprehensive income.

d. other revenues and expenses.

2. Together with the cash flow statement, the income statement enables the investors to determine the rate of return the company is generating relative to the amount of capital invested.

True

False

3. When is a company not required to report comprehensive income?

a. when it has no liability items

b. when it has no other comprehensive income items

c. when it has a net operating loss

d. when it has no prior period adjustments