All of These Were Legacies of the Reformation EXCEPT

question 43

Multiple Choice

All of these were legacies of the Reformation EXCEPT

• A) a higher literacy rate.
• B) an emphasis on the individual's moral responsibility.
• C) a closer relationship between ordinary church members and their clergy.
• D) an increased tolerance for other peoples and other points of view.
• E) more conflicts as nationalism became more prevalent.

---

Definitions:

Interperiod Tax Allocation

A method used in accounting to distribute income taxes over different periods due to temporary timing differences between when items are recognized for financial reporting and tax purposes.

Intraperiod Tax Allocation

The allocation of tax expense or benefit among different components of comprehensive income, such as operating income and other comprehensive income.

Deferred Tax Assets

Financial assets that result from differences between the tax base of assets or liabilities and their carrying amount in financial statements, which will result in deductible amounts in future periods.

Deferred Tax Liabilities

A tax obligation recorded on a company's balance sheet that results from temporary differences between the tax basis of assets or liabilities and their reported amount in the financial statements.