Which of the Following Is True About Intra-Period Tax Allocation

question 88

Multiple Choice

Which of the following is true about intra-period tax allocation?

• A) It arises because certain revenue and expense items appear in the income statement either before or after they are included in the tax return.
• B) It is required to report the cumulative effect of accounting changes but not for discontinued operations.
• C) Its purpose is to allocate income tax expense evenly over a number of accounting periods.
• D) Its purpose is to relate the income tax expense to the items which affect the amount of tax.

---

Definitions:

Decline

A gradual decrease in quality, quantity, or importance of something over time.

Gilded Age

A term referring to the late 19th century in the United States, characterized by rapid economic growth, technological innovation, and stark social inequalities.

Elections

The process through which citizens vote to choose their political leaders or decide on issues of governance.

Part Loyalty

Part Loyalty refers to the allegiance or loyalty an individual or group holds towards a particular political party, often influencing voting behaviors and political perspectives.