Interperiod Income Tax Allocation

question 30

Multiple Choice

Interperiod income tax allocation:

• A) involves the allocation of income taxes on certain taxable items of the same period.
• B) generally has no effect on the balance sheet.
• C) arises because certain revenues and expenses appear in the financial statements either before or after they are included on the income tax return.
• D) involves only items appearing below income from continuing operations in the income statement.

---

Definitions:

Arthropods

A vast phylum that includes insects, arachnids, myriapods, and crustaceans, characterized by their exoskeleton, segmented bodies, and jointed appendages.

Median Plane

An anatomical reference plane that divides the body into equal left and right halves.

Frontal

Pertaining to the front part of something, especially the frontal bone or frontal lobe of the brain.

Transverse

Positioned or extending across something; crossing from side to side or perpendicular to the long axis.