Which of the following taxes are included in the total income tax expense of a corporation as reported on its GAAP financial statements?
A)Federal income taxes.
B)Foreign income taxes.
C)State income taxes.
D)All of the above taxes are included.

Question

Quizplus · Accepted Answer

According to Generally Accepted Accounting Principles (GAAP), all income taxes (federal, foreign, and state) are included in the total income tax expense of a corporation as reported on its financial statements.

Which of the Following Taxes Are Included in the Total