Match the words with the term.
-What is income tax expense deducted from to determine profit for the year?
A) revenue
B) profit before taxes
C) distribution expenses before taxes
D) profit before cost of sales

Question

Quizplus · Accepted Answer

Income tax expense is deducted from profit before taxes to determine the profit for the year. This is because income tax is calculated based on the earnings before tax, and then it is subtracted to find the net income or profit for the year.

Match the Words with the Term