Which statement is correct?
A) The deferral and accrual methods produce the same tax expense when tax rates are constant.
B) The deferral method applies new tax rates to accumulated tax balances.
C) The accrual method applies new tax rates to only to current year's income.
D) The deferral and accrual methods produce the same tax expense when tax rates are falling.
Correct Answer:
Verified
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