Intraperiod income tax presentation is primarily a matter of:
A) Valuation.
B) Going concern.
C) Periodicity.
D) Allocation.

Question

Quizplus · Accepted Answer

Intraperiod income tax presentation involves the allocation of income tax expense or benefit among the different components of a company's financial statements (i.e., income statement, balance sheet, and cash flow statement) for a given accounting period. Therefore, the correct answer is allocation. Valuation and going concern relate to different accounting principles, while periodicity refers to the time interval covered by financial statements.

Intraperiod Income Tax Presentation Is Primarily a Matter Of