Which of the following statements is accurate with respect to the topic of deferred taxes?

Select one:

a.

Companies report the current and deferred portion of income tax expense in the income statement or disclose this information in the notes to the financial statements.

b.

Taxable income differs from accounting income due to differences in intraperiod allocation.

c.

Income taxes payable is computed by multiplying taxable book income times the enacted tax rate.

d.

US tax law conforms to generally accepted accounting principles.