Which of the Following Explain Why It Is Important to Determine

question 30

Multiple Choice

Which of the following explain why it is important to determine the period in which income is recognized?

• A)Marginal tax rates may be different in different periods.
• B)Tax laws may change
• C)The time value of money
• D)All of the above are explanations

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Definitions:

Permeability

Permeability is a measure of the ability of a porous material (such as rock or soil) to allow fluids to pass through it.

Perched Water

Groundwater that sits above the main water table and generally is underlain by a layer or lens of impermeable rock that blocks the downward flow of groundwater.

Water Table

The level below which the ground is saturated with water, marking the boundary between the unsaturated zone above and the saturated zone below.

Groundwater

Water that occupies the pores and fractures in underground rock and soil, a critical source of freshwater for drinking, agriculture, and industry.