D is corrent because ASC Topic 740 states that the objective of accounting for income taxes is to recognize current taxes payable or refundable and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in an enterprise’s financial statements or tax returns. Matching is also a rationale, but a less important one.
A is incorrect. ASC Topic 740 states that the objective of accounting for income taxes is to recognize current taxes payable or refundable and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in an enterprise’s financial statements or tax returns. Matching is also a rationale, but a less important one.
A is incorrect. ASC Topic 740 states that the objective of accounting for income taxes is to recognize current taxes payable or refundable and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in an enterprise’s financial statements or tax returns. Matching is also a rationale, but a less important one.
A is incorrect. ASC Topic 740 states that the objective of accounting for income taxes is to recognize current taxes payable or refundable and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in an enterprise’s financial statements or tax returns. Matching is also a rationale, but a less important one.
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