Corporation income tax expense is

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Corporation income tax expense is typically accrued in the adjusting entry process as it represents a known liability that can be estimated with reasonable accuracy based on current year profits. While the exact liability may not be known until the tax return is filed, a reasonable estimate must be made for financial reporting purposes. Corporate income tax expense is usually reported in a separate section of the income statement and is not reported in the same manner as partnership income tax expense.

Corporation Income Tax Expense Is