CFA Practice Question

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CFA Practice Question

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.
Correct Answer: B

Taxable income is the amount of income shown on the tax return; it is the income to be used in computing tax liability.

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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