One can describe the benefits of ASC 740-30 (APB 23)as "all or nothing." If it is elected,APB 23 applies to the earnings from all foreign subsidiaries,in the current year and thereafter.

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APB 23 allows companies to assert that foreign earnings are indefinitely reinvested, thus deferring U.S. taxes. However, it can be applied selectively to different subsidiaries or earnings, not necessarily "all or nothing."

One Can Describe the Benefits of ASC 740-30 (APB 23)as