Which of the following explain why it is important to determine the period in which income is recognized?
A)Marginal tax rates may be different in different periods.
B)Tax laws may change
C)The time value of money
D)All of the above are explanations
E)A and b.only are explanations

Question

Quizplus · Accepted Answer

All of the above are explanations for why it is important to determine the period in which income is recognized. Marginal tax rates may be different in different periods, tax laws may change, and the time value of money can all impact the financial outcomes of recognizing income in a particular period.

Which of the Following Explain Why It Is Important to Determine