Consistency appears to dictate that neither tax liabilities nor deferred credits, under either the comprehensive or partial allocation approaches, should be discounted.
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Q4: Income tax allocation is grounded in the
Q5: From an economic standpoint, it appears reasonable
Q6: Under SFAS No. 109, the deferred tax
Q7: Under partial allocation, income tax expense is
Q8: SFAS No. 96 switched from the revenue-expense
Q10: Timing differences are now referred to as
Q11: In partial tax allocation, resulting credits are
Q12: Tax allocation is made necessary by the
Q13: The tax liability would be greater than
Q14: Deferred taxes were viewed as liabilities under
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