Which of the Following Statements About Uncertain Tax Position Disclosures

question 57

Multiple Choice

Which of the following statements about uncertain tax position disclosures is false?

• A) ASC 740 requires a company to disclose the amount of unrecognized tax benefits for each country in which it files a tax return
• B) ASC 740 requires a company to disclose the aggregate amount of unrecognized tax benefits, separated between U.S., state and local, and international tax positions
• C) ASC 740 requires a company to disclose the aggregate amount of unrecognized tax benefits without separation between U.S., state and local, and international tax positions
• D)None of these

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Definitions:

Esther Duflo

A French-American economist known for her research in development economics and as a recipient of the Nobel Prize in Economics.

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An economist who won the Nobel Prize in Economic Sciences in 2019 for his experimental approach to alleviating global poverty.

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The expense incurred by not selecting the second-best choice when deciding between different options.