Question: 1. Describe the critical factor in evaluating whether a performance obligation is satisfied. 2. The amount of income taxes due to the government for a

1. Describe the critical factor in evaluating whether a performance obligation is satisfied.

2. The amount of income taxes due to the government for a period of time is rarely the amount reported on the income statement for that period as income tax expense.

Explain the objectives of accounting for income taxes in general-purpose financial statements.

(short and brief answer only please)

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