A multinational corporation has used ASC 740-30 (APB 23)to avoid reporting any U.S.deferred tax expense on $50 million of the earnings of its foreign subsidiaries.All of these subsidiaries operate in countries with lower tax rates than the United States.Describe how any actual profit repatriation from these subsidiaries will affect the corporation's book effective tax rate.

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The Answer of A multinational corporation has used ASC 740-30 (APB 23)to avoid reporting any U.S.deferred tax expense on $50 million of the earnings of its foreign subsidiaries.All of these subsidiaries operate in countries with lower tax rates than the United States.Describe how any actual profit repatriation from these subsidiaries will affect the corporation's book effective tax rate.

A Multinational Corporation Has Used ASC 740-30 (APB 23)to Avoid