A member of the board of directors is concerned that the company's income statement reports income tax

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A member of the board of directors is concerned that the company's income statement reports income tax expense of $12.3 million, but the income tax obligation to the government for the year is only $7.9 million. How might the corporate controller explain this apparent discrepancy?

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Income tax expense is comprised of both the current and the deferred tax consequences of ev...View the full answer

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Shameen Tahir

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