What Is the Difference Between the Way Taxes Are Treated

question 5

Multiple Choice

What is the difference between the way taxes are treated under the discreet approach and under the integral approach?

• A)Under the discreet approach, taxes are estimated by applying an average tax rate to pre-tax interim net income, but taxes are calculated separately for each interim period under the integral approach.
• B)Under the integral approach, taxes are estimated by applying an average tax rate to pre-tax interim net income, but taxes are calculated separately for each interim period under the discreet approach.
• C)Under the discreet approach, taxes are recognized as they are incurred and paid, but under the integral approach, taxes are estimated by applying an average tax rate to pre-tax interim net income.
• D)Under the integral approach, taxes are recognized as they are incurred and paid, but under the discreet approach, taxes are estimated by applying an average tax rate to pre-tax interim net income.

Recognize different types of planning and their importance in strategizing.

Understand the elements of a good plan and the concept of measurable objectives.

Identify the planning horizons and their relevance to organizational strategies.

Distinguish between strategic, intermediate, and operational planning.

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Definitions:

Large Intestine

The large intestine is the final section of the gastrointestinal tract, responsible for water absorption and the formation of feces.

Duodenum

The first section of the small intestine immediately beyond the stomach, where initial digestion of food occurs.

Esophagus

A muscular tube connecting the throat (pharynx) with the stomach; food is pushed through it by peristaltic movements.

Salivary Amylase

An enzyme found in saliva that starts the process of starch digestion in the mouth.