What Does These Term Refere To

question 8

Multiple Choice

What does these term refere to:
-Fiction

• A)documentary
• B)imaginary events
• C)a news report
• D)none of the above

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Definitions:

Intraperiod Tax Allocation

The process of allocating income taxes within a single financial reporting period among different items that directly affect reported net income or loss.

Income Tax Allocation

The process of assigning income tax expense to various accounting periods because of temporary differences between accounting income and taxable income.

Tax Laws

Regulations imposed by governmental agencies in relation to the calculation and payment of taxes by individuals and organizations.

Deferred Tax Liability

A tax obligation that arises when there are temporary differences between the book value and the tax value of assets and liabilities.