Use the Following Information for Questions 76-78

question 1

Multiple Choice

Use the following information for questions 76-78.
At the beginning of 2015; Elephant, Inc. had a deferred tax asset of $10,000 and a deferred tax liability of $15,000. Pre-tax accounting income for 2015 was $750,000 and the enacted tax rate is 40%. The following items are included in Elephant's pre-tax income:
-What is Elephant, Inc.'s taxable income for 2015?

• A) $ 750,000
• B) $ 630,000
• C) $ 870,000
• D) $1,130,000

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Definitions:

Self-Actualized

The realization or fulfillment of one's talents and potentialities, considered as a drive inherent in everyone, often associated with Maslow's hierarchy of needs.

Physiological Needs

Basic physical requirements for human survival, such as air, water, food, shelter, and sleep, which are considered the foundation of Maslow's hierarchy of needs.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a hierarchy of needs culminating in self-actualization.

D-Motivation

A concept related to motivation driven by deficiency needs, such as physiological and safety needs, as opposed to growth or being needs.