If a Country's Accounting Income Does Not Differ Significantly from Its

question 37

Multiple Choice

If a country's accounting income does not differ significantly from its taxable income,one would reasonably expect:

• A)extreme conservatism on the part of accountants.
• B)a significant amount of Deferred Taxes on the Balance Sheet.
• C)that the use of LIFO would be more prevalent.
• D)extreme conservatism on the part of accountants as well as increased use of LIFO.

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