Which of the Following Statements About Uncertain Tax Position Disclosures

question 74

Multiple Choice

Which of the following statements about uncertain tax position disclosures is false?

• A)ASC 740 requires a company to disclose the amount of unrecognized tax benefits for each country in which it files a tax return.
• B)ASC 740 requires a company to disclose the aggregate amount of unrecognized tax benefits, separated between U.S., state and local, and international tax positions.
• C)ASC 740 requires a company to disclose the aggregate amount of unrecognized tax benefits without separation between U.S., state and local, and international tax positions.
• D)None of the choices are correct.

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Definitions:

Tailored Sourcing

Procurement approach focusing on obtaining goods or services that are customized to meet specific needs or criteria of a business.

Supply Sources

Supply Sources are the origins from which goods, materials, or services are obtained, essential for production and operational processes in businesses.

Uncertainty

The state of having limited knowledge about an existing situation, making it difficult to predict outcomes accurately.

Quick Response

A strategy that focuses on reducing lead times across various stages of the supply chain to meet customer demand rapidly.