Question
Which of the following is an argument that an advocate of interperiod income tax allocation might use to support his/her position? Income taxes result from
Which of the following is an argument that an advocate of interperiod income tax allocation might use to support his/her position?
Income taxes result from taxable income. | ||
Income taxes are an expense of doing business and should be treated the same as other expenses of doing business under accrual accounting. | ||
Nonallocation of income taxes hides an economic difference between a company that employs tax strategies that reduce current tax payments than one that does not. | ||
Income taxes are not incurred in anticipation of future benefits, nor are they expirations of cost to provide facilities to generate revenues. |
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