AICPA Exam CPA-Financial Topic 2 Question 18 Discussion

Actual exam question for AICPA's CPA-Financial exam

Question #: 18
Topic #: 2

For interim financial reporting, the computation of a company's second quarter provision for income taxes uses an effective tax rate expected to be applicable for the full fiscal year. The effective tax rate should reflect anticipated:

AOption A

BOption B

COption C

DOption D

Show Suggested Answer

Suggested Answer: D

Choice 'd' is correct. Yes - Yes.

The effective income tax rates for operations for the full year should reflect anticipated foreign tax rates and available tax planning alternatives. In addition, the effect of other anticipated tax credits, capital gains rates, and foreign tax credits should be included.

by Annmarie at May 03, 2022, 09:07 AM

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