Under which of the following methods is income tax expense equal to the income tax liability?

Name: Under which of the following methods is income tax expense equal to the income tax liability?
Brand: Quizplus
Rating: 4.7 (52 reviews)

Question

Quizplus · Accepted Answer

The net-of-tax method calculates income tax expense as the difference between total income taxes payable and any tax credits, which results in income tax expense equaling the income tax liability.  The other options do not necessarily result in income tax expense equaling the income tax liability.

Under Which of the Following Methods Is Income Tax Expense