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Which of the following is not an argument that an advocate of nonallocation of deferred taxes might use to support his/her position? Income taxes result
Which of the following is not an argument that an advocate of nonallocation of deferred taxes might use to support his/her position?
Income taxes result only 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. | ||
Income taxes are not levied on individual items of income or expense. | ||
The current provision for income taxes is a better predictor of future cash flows than is income tax expense that includes deferred taxes. |
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