Intraperiod tax allocation
A)arises because certain revenue and expense items appear in the income statement
Either before or after they are included in the tax return.
B)is required for the cumulative effect of changes in accounting principles but not for
Discontinued operations.
C)allocates income tax expense evenly over a number of accounting periods.
D)relates income tax expense to the items which affect the amount of tax.

Question

Quizplus · Accepted Answer

Intraperiod tax allocation relates income tax expense to specific items that affect the amount of tax, such as discontinued operations, extraordinary items, and changes in accounting principles, to provide a clearer picture of the tax effects of these items in the financial statements.

Intraperiod Tax Allocation