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A Company's Income Tax Expense Is Calculated on the Basis

Question 108

Multiple Choice

A company's income tax expense is calculated on the basis of book profit, but the income tax payable amount is based on the:


A) amount of payroll tax that has not been paid yet.
B) amount of taxable income, as calculated on the income tax return.
C) GST rate applied to sales revenues.
D) amount of dividends paid to shareholders.

Correct Answer:

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