Explaining company overpay their income taxes

Assignment Help Business Management

Reference no: EM1331531

a) Can you give a specific example of revenue that might result in a temporary difference?

b)Why do you think its important to show the full tax expense on the income statement even though the company is paying taxes to the IRS in a different amount? What accounting principle is this based upon?

c) Why might a company overpay their income taxes?

Reference no: EM1331531

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