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Taxable income of a corporation a . differs from accounting income due to differences in intraperiod allocation between the two methods of income determination. b
Taxable income of a corporation
a differs from accounting income due to differences in intraperiod allocation between the two methods of income determination.
b differs from accounting income because companies use the full accrual method for financial reporting but use the modified cash basis for tax reporting.
c is based on generally accepted accounting principles.
d is reported on the corporation's income statement.
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