No Tax- Effect Adjustments Are Necessary in Relation to the Consolidation

question 1

Multiple Choice

No tax- effect adjustments are necessary in relation to the consolidation elimination of intragroup services because:

• A)no temporary differences exist between the accounting and tax bases of any assets or liabilities arise due to these elimination entries
• B)no adjustment has been made to any expense or income accounts
• C)no adjustment has been made to any asset or liability accounts
• D)both A and C

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Definitions:

Myelinization

The process of forming a myelin sheath around the axons of neurons, which increases the speed at which electrical impulses propagate along the nerve cells.

Synapse

The junction between two neurons or a neuron and a muscle where information is transmitted from one to the other.

Dendrites

Branchlike parts of a neuron that are specialized to receive information from other neurons or receptor sites.

Axon

A part of a nerve cell that carries electrical impulses away from the neuron's cell body.