The Adjusting Entry to Record the Accrual of Income Tax

question 47

Multiple Choice

The adjusting entry to record the accrual of income tax expense includes a:

• A) debit to income tax payable.
• B) credit to income tax expense.
• C) credit to accounts payable.
• D) credit to income tax payable.

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Definitions:

Cultural Looseness

Refers to the degree to which cultural norms and behaviors in a society are not strictly enforced, allowing for more variability and flexibility in individual behavior.

Unstated Conflict

A disagreement or tension that exists without explicit acknowledgment or communication among parties involved.

Tight Culture

A social system characterized by strong norms and low tolerance for deviant behavior, promoting uniformity in actions and values.

High Uncertainty Avoidance

A cultural dimension indicating a society's discomfort with uncertainty and ambiguity, leading to supportive rituals and norms to reduce unpredictability.