Which of the Following Items Are Not Included in the GAAP

question 40

Multiple Choice

Which of the following items are not included in the GAAP financial statement income tax footnote's effective tax rate reconciliation?

• A)Hypothetical tax on book income at U.S. Federal corporate tax rate.
• B)Total tax expense per the GAAP financial statements.
• C)Tax effect of temporary differences.
• D)Tax effect of permanent differences.

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Definitions:

Administration Fee

A charge paid to cover the administrative costs of processing or servicing a transaction, policy, or account.

United Kingdom

A sovereign country located off the northwestern coast of mainland Europe, comprising England, Scotland, Wales, and Northern Ireland.

Holidays Off

Designated non-working days recognized by organizations or governments that allow employees or members to refrain from work to celebrate or observe specific occasions or festivals.

Paid Double

Receiving twice the usual compensation or amount for a product, service, or as a settlement.