For which of the following accounts would the amount recorded under partial tax allocation be equal to the amount recorded under comprehensive tax allocation?

Question

Quizplus · Accepted Answer

The amount recorded under partial tax allocation and comprehensive tax allocation will be equal for the Income Tax Liability account, as this account reflects the actual amount of taxes owed to the government at a given point in time. Both partial and comprehensive tax allocation methods will result in the same amount being recorded for this account. However, for accounts like Deferred Tax Liability and Income Tax Expense, the two methods will result in different amounts being recorded.

For Which of the Following Accounts Would the Amount Recorded