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Income Tax Expense Is Based on ________ from the Income

Question 12

Multiple Choice

Income tax expense is based on ________ from the income statement while income tax payable is based on ________ from the income tax return.


A) net income, taxable income
B) taxable income, net income
C) pretax accounting income, taxable income
D) taxable income, pretax accounting income

Correct Answer:

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