Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the most correct term.
-Income tax expense

Question

Quizplus · Accepted Answer

Income tax expense is often considered a "plug" figure in accounting, as it is used to reconcile the net effect of the current tax liability and any changes in deferred tax assets and liabilities. This adjustment ensures that the financial statements accurately reflect the company's tax expense in accordance with applicable accounting standards.

Listed Below Are 5 Terms Followed by a List of Phrases