Match These Terms to the Statements That Follow

question 63

Multiple Choice

Match these terms to the statements that follow.
-When assessment determines promotion to the next grade in secondary school, the assessment is called ___.

• A)alternate assessment
• B)statewide assessment
• C)high-stakes assessment
• D)accommodations

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) for international use.

Deferred Taxes

Taxes that are incurred in one period but are not paid until a future period, often due to timing differences between accounting and tax reporting.

Taxable Entity

A business or individual that is required to pay taxes to a federal, state, or local government.

Permanent Difference

These are differences between taxable income and accounting income that originate in one period and do not reverse over time, affecting taxable income and tax liability.