A result of inter-period tax allocation is that: Multiple Choice Large fluctuations in a company's tax liability are eliminated. The income tax expense is allocated among the income statement items that caused the expense. The income tax expense in the income statement is the sum of the income taxes payable for the year and the changes in deferred tax asset or liability balances for the year. The income tax expense shown in the income statement is equal to the deferred taxes for the year.

Question

Business

Gavin Garner

18 December, 16:28

A result of inter-period tax allocation is that: Multiple Choice Large fluctuations in a company's tax liability are eliminated. The income tax expense is allocated among the income statement items that caused the expense. The income tax expense in the income statement is the sum of the income taxes payable for the year and the changes in deferred tax asset or liability balances for the year. The income tax expense shown in the income statement is equal to the deferred taxes for the year.

+3

Answers (1)

Know the Answer?

Addison Decker · Answer 1

A result of inter-period tax allocation is that: The income tax expense in the income statement is the sum of the income taxes payable for the year and the changes in deferred tax asset or liability balances for the year.