Which of the following is/are true regarding U.S. GAAP and IFRS requirements for income tax accounting for financial reporting purposes?

a. A permanent difference never affects income tax expense for any period.
b. A temporary difference that implies a future tax deduction gives rise to a deferred tax asset.
c. A temporary difference that implies a future increase in income tax payable gives rise to a deferred tax liability.
d. The accountant computes income tax expense using pretax amounts for financial reporting.
e. all of the above


E

Business

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