Empirical Research on Whether Tax-Effect Accounting Should Continue to Be

Empirical research on whether tax-effect accounting should continue to be applied indicates that:

A) share prices are more highly associated with taxable income, and therefore financial reports should conform to the taxation treatments
B) share prices are more highly associated with accounting income, and therefore accounting standards should not be changed
C) share prices are equally associated with both accounting and taxable income, and therefore both accounting and taxation income should be reported in the financial reports
D) share prices are unrelated to either accounting or taxation income