Question
9 Agency Co had a decrease tax liability of $25 million and a decrease in deferred tax assets of $20 million for this year. The
9
Agency Co had a decrease tax liability of $25 million and a decrease in deferred tax assets of $20 million for this year. The taxable income was $360 million. The company is subject to a tax rate of 25%. The total income tax expense for the year in millions was:
1. 95 million
2. 85 million
3. 135 million
4. 45 million
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Principles Of Food Beverage And Labor Cost Controls
Authors: Paul R. Dittmer, J. Desmond Keefe
8th Edition
0471429929, 978-0471429920
