Income tax expense is not recorded at the amount owing to the tax authorities even if this is the most objectively measured amount.

Name: Income tax expense is not recorded at the amount owing to the tax authorities even if this is the most objectively measured amount.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Income tax expense is recorded based on the accounting principles and estimates of taxable income, which may differ from the actual amount owed to tax authorities due to differences in accounting and tax laws.

Income Tax Expense Is Not Recorded at the Amount Owing