Which of the following is included as part of APB 23?
A)A parent corporation can exclude a foreign subsidiary's income if earnings will not be repatriated.
B)A parent corporation can exclude deferred taxes on foreign income if earnings will not be repatriated.
C)A parent must meet a more-likely-than not standard to determine the effect of a tax benefit.
D)A parent must disclose details relating to tax uncertainties of its subsidiaries.

Question

Quizplus · Accepted Answer

APB 23 allows a parent corporation to exclude deferred taxes on foreign income if it is determined that the earnings will be indefinitely reinvested outside the U.S.

Which of the Following Is Included as Part of APB