Interperiod Income Tax Allocation

Multiple Choice

Interperiod income tax allocation:

A) Involves the allocation of income taxes on certain taxable items of the same period.
B) Generally has no effect on the balance sheet.
C) Arises because certain revenues and expenses appear in the financial statements either before or after they are included on the income tax return.
D) Involves only items appearing below income from continuing operations in the income statement.