Corporate income taxes cannot be calculated until all adjustments are made to net income.
BT: Knowledge

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This statement is true. In order to calculate corporate income taxes, adjustments must be made to the net income of the corporation so that only taxable income is considered. These adjustments can include deductions for items such as depreciation, interest expense, and other business expenses. Once all of these adjustments have been made, the corporation's taxable income can be calculated and used to determine the amount of income tax owed.

Corporate Income Taxes Cannot Be Calculated Until All Adjustments Are