Please use 150 words to explain how accounting profit and taxable profit differ and why...
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Accounting
Please use 150 words to explain how accounting profit and taxable profit differ and why income tax expense is usually not equal to accounting profit multiplied by the corporate tax rate. Your answer should refer to the main principles of accounting for income tax.
[Note: Please take the MAXIMUM WORD LIMITS that are detailed as a guide only and no more than 10% over the word limit.]
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