Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. name some reasons why the taxable income of a corp

Name some reasons why the taxable income of a corporation is likely not to be...

70.2K

Verified Solution

Question

Accounting

Name some reasons why the taxable income of a corporation is likely not to be the same as its financial statement net income.

a. Depreciation expense on the tax return is typically greater than depreciation expense for financial statements.

b. Accounts payable are usually different.

c. Net assets are usually larger on the tax return.

d. Sales amounts differ because of Internet sales.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Consider the following circuit where the capacitor is initially empty zero initial conditions the capacitance...

Physics
1.2K views

24 Initially switch remains in position 1 for long Now it is turned to position...

Physics
1.2K views

A little boy is in a treehouse, 18 feet up in a tree. He lifts...

Physics
1.2K views

A square wave current switching rapidly between 0 5 ampere and 0 5 ampere is...

Geometry
1.2K views

X BOMR is a rectangle Find x B R 7x 2 5x 16 M

Basic Math
1.2K views

Use the critical value method to solve the rational inequality. Write the solution set in...

Statistics
1.2K views

A local non profit group would like to estimate the proportion of residents of Okeechobee...

Algebra
1.2K views

13 3 4 4 36 15 24 12 14 3 x 9 16 2x 5...

Accounting
1.2K views

describe the current system of shareholder voting and how blockchain may improve the process...

Accounting
1.2K views

Exercise 8-39(Algo) Compute Costs per Equivalent Unit: FIFO Method (LO 8-2,5) ...

Accounting
1.2K views

You have the opportunity to expand your business by purchasing new equipment for $152,000. The...

Accounting
1.2K views

war w pus pricing to determine various amounts. E9.21 (LO 2) Service Roxy's Recording Studio...