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Basic Question 2 of 6

Which of the following is the income that is used to compute the amount of taxes to be paid in a period?

A. Pretax accounting income
B. Taxable income
C. Either one can be used.
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User Contributed Comments 5

User Comment
Yurik74 The only question I got answered right : )))
DannyZhou Me too!
dipu617 Me too!!!! ;-)
gulfa99 mmm...i am not good at this...i dont pay taxes
Diruuk Me Too!!!!
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Colin Sampaleanu

Colin Sampaleanu

Learning Outcome Statements

describe the differences between accounting profit and taxable income and define key terms, including deferred tax assets, deferred tax liabilities, valuation allowance, taxes payable, and income tax expense;

CFA® 2024 Level I Curriculum, Volume 3, Module 24.