Match the Terms with Their Definitions

question 103

Essay

Match the terms with their definitions.Some terms may not be used.
a.advisory board
b.B corporation
c.C corporation
d.corporate bylaws
e.corporate charter
f.limited partnership
g.partnership
h.professional corporation
i.S corporation
j.sole proprietorship
k.​unlimited liability
-A document that specifies the size of the board of directors,the duties and responsibilities of directors and officers,the scheduling of regular meetings,voting rights,and restrictions on the transfer of stock

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Definitions:

Pretax Financial Income

Income of a company calculated before taxes are deducted, often compared to taxable income for tax planning.

Deferred Tax Asset

A tax benefit that arises from temporary differences between the tax and accounting treatment of assets and liabilities, to be utilized in future periods.

Income Taxes Payable

This account reflects the amount of income taxes a company owes to the government but has not yet paid, representing a liability on the balance sheet.

Income Tax Expense

The cost incurred by businesses or individuals due to earnings, calculated according to government tax rates and laws.