Income tax expense will appear on the statement of ﬁnancial position.

Name: Income tax expense will appear on the statement of ﬁnancial position.
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Question

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Income tax expense is a temporary account that is closed out at the end of the accounting period. It would appear on the income statement but not on the statement of financial position. The statement of financial position reflects the company's assets, liabilities, and equity at a specific point in time.

Income Tax Expense Will Appear on the Statement of ﬁNancial