Intraperiod tax allocation
A) allocates tax balances between fiscal years.
B) allocates tax balances within a fiscal period.
C) is used for income from continuing operations but not for income from discontinued operations.
D) is used for other comprehensive income but not for income from discontinued operations.

Question

Quizplus · Accepted Answer

Intraperiod tax allocation allocates tax balances within a fiscal period, to properly match the tax expense with the related income or loss. It is used for both income from continuing operations and income from discontinued operations. Other comprehensive income is not relevant for intraperiod tax allocation.

Intraperiod Tax Allocation