FAS 109 prescribes the rules regarding the determination of current income tax expense for income statement presentation and deferred taxes for balance sheet presentation. Briefly describe how current income tax expense for book purposes is determined under FAS 109.

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The Answer of FAS 109 prescribes the rules regarding the determination of current income tax expense for income statement presentation and deferred taxes for balance sheet presentation. Briefly describe how current income tax expense for book purposes is determined under FAS 109.

FAS 109 Prescribes the Rules Regarding the Determination of Current