- CFA Exams
- CFA Level I Exam
- Study Session 8. Financial Reporting and Analysis (3)
- Reading 27. Income Taxes
- Subject 3. Determining the Tax Base of Assets and Liabilities
CFA Practice Question
What statement(s) is (are) true?
II. Computation of taxable income is based on the matching principle.
I. Deferred taxes are determined on the basis of average tax rates determined on an industry-by-industry basis.
II. Computation of taxable income is based on the matching principle.
A. II only
B. Neither of them is true.
C. I only
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