CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

Both accounting income and taxable income are measured in compliance with generally accepted accounting principles. True or False?
Correct Answer: False

User Contributed Comments 5

User Comment
vincenthuang taxable income in compliance with IRC
sarath taxable income is in compliance with the IRC..Internal Revenue Code..
MattNYC Taxable income uses modified cash basis accounting while Tax expense/Pre-tax income utilizes the accrual system.
gill15 Compliance with IRC...thats not even found in the curriculum books..dont understand how you guys know this...

never took accounting before..still...should be in the books.
poomie83 IRC only in US. It is relevant tax body in each country
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