Which of the following statements about intraperiod tax allocation is correct?

Intraperiod tax allocation refers to the process of allocating annual income tax expense to quarterly income statements.

Intraperiod tax allocation is used on the income statement for income from continuing operations and discontinued

operations.

The general concept behind intraperiod tax allocation is "Let the tax follow the cash".

Intraperiod tax allocation is used on the income statement for unusual or infrequent gains and losses.