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Which one is not correct in the context of tax accounting?

a.corporate income tax is an expense, not a distribution of the profits to the government.

b.deferred tax assets might be resulted from Loss Carryback.

c.non taxable expense causes permanent differences between pretax accounting income and taxable income.

d.Deferred tax liability might be resulted when tax expense on income statement is less than tax payment based on tax code.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9408936

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