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Intraperiod tax allocation relates income tax expense to the items that affect the amount of tax. O allocates income tax expense evenly over a number of accounting periods. ● arises because certain revenue and expense items appear in the income statement either before or after they are included in the tax return. O is required for the cumulative effect of changes in accounting principles but not for discontinued operations.

Intraperiod tax allocation relates income tax expense to the items that affect the amount of tax. O allocates income tax expense evenly over a number of accounting periods. ● arises because certain revenue and expense items appear in the income statement either before or after they are included in the tax return. O is required for the cumulative effect of changes in accounting principles but not for discontinued operations.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Intraperiod tax allocation relates income tax expense to the items that affect the amount of tax. allocates income tax expense evenly over a number of accounting periods. arises because certain revenue and expense items appear in the income statement either before or after they are included in the tax return. O is required for the cumulative effect of changes in accounting principles but not for discontinued operations.
Transcribed Image Text:Intraperiod tax allocation relates income tax expense to the items that affect the amount of tax. allocates income tax expense evenly over a number of accounting periods. arises because certain revenue and expense items appear in the income statement either before or after they are included in the tax return. O is required for the cumulative effect of changes in accounting principles but not for discontinued operations.
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