Taxable income of a corporations
a. differs from accounting income due to differences in intraperiod allocation between the 2 methods of income determination
b. differs from accounting income due to differences in intraperiod allocation and permanent differences between the 2 methods of income determination
c. is based on generally accepted accounting principles
d. is reported on the corporation's income statement
Ans: b. differs from accounting income due to differences in intraperiod allocation and permanent differences between the 2 methods of income determination
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