22. The foundations of financial accounting and tax accounting differ because: Explain a. the primary...
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Accounting
22. The foundations of financial accounting and tax accounting differ because: Explain
a. the primary focus of financial accounting is the balance sheet, while the primary focus of tax accounting is the income statement
b. the primary objectives of financial accounting are broadly defined under generally accepted accounting principles, while the primary objectives of tax accounting are a proper measure of the tax base
c. generally accepted accounting principles may not be used in computing taxable income
d. all of the above
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