Item $73$

Which of the following statements about ASC $740$ as it relates to uncertain tax positions is true?

Multiple Choice

ASC $740$ deals with all tax benefits involving income and non$-$income taxes.

ASC $740$ deals with recognized tax benefits related to income tax positions, regardless of whether the item is taken on a filed tax return.

ASC $740$ deals with whether a recognized income tax benefit will be realized.

ASC $740$ deals with recognized tax benefits related to income tax positions claimed on a filed tax return.