Which of the Following Statements Best Describes the Objective(s) of ASC

question 38

Multiple Choice

Which of the following statements best describes the objective(s) of ASC 740?

• A) To compute a corporation's current income tax liability or benefit.
• B) To report permanent differences in the balance sheet.
• C) To recognize deferred tax liabilities and assets.
• D) To both compute a corporation's current income tax liability or benefit and to recognize deferred tax liabilities and assets.

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Definitions:

Age Discrimination

Unfair treatment of an individual or group based on their age, particularly in employment settings.

ADEA

Age Discrimination in Employment Act, a U.S. law designed to protect workers and job applicants aged 40 and over from age-based discrimination.

Bona Fide Occupational Qualification

An employment qualification that an employer can legally consider while making decisions about hiring and retaining employees, provided it is reasonably necessary to the normal operation of the particular business.

Hostile-Environment Sexual Harassment

Unwelcome sexual conduct that creates an intimidating, hostile, or offensive working environment.