Which of the Following Statements with Respect to the Relationship

Multiple Choice

Which of the following statements with respect to the relationship between accounting Net Income and Net Income For Tax Purposes is NOT correct?

A) Both accounting Net Income and Net Income For Tax Purposes value many assets at their historical cost.
B) Accounting Net Income requires that costs be matched with revenues.
C) Net Income For Tax Purposes requires that costs be matched with revenues.
D) Accounting Net Income is determined by applying Generally Accepted Accounting Principles.