In Its First Four Years of Operations Peridot Jewelers Reported

question 24

Multiple Choice

In its first four years of operations Peridot Jewelers reported the following operating income (loss) amounts: There were no other deferred income taxes in any year. In 2008, Peridot elected to carry back its operating loss. The enacted income tax rate was 40%. In its 2009 income statement, what amount should Peridot report as current income tax payable?

• A)$ 80,000
• B)$110,000
• C)$170,000
• D)$180,000

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Ethical Guidelines

Guidelines designed to ensure that behavior and practices adhere to a set of moral principles, especially in research and professional settings.

Code of Ethics

A set of guidelines designed to set out acceptable behaviors and practices for members of a particular profession or organization.

Voluntary Participation

A principle requiring that individuals choose to participate in research of their own free will without coercion or undue influence.

Nonmaleficence

A principle in ethics, especially in healthcare, which dictates avoiding the causation of harm to others.