Question: If a change in accounting principle does not require additional taxes to be paid or taxes to be refunded, which account is used to record

If a change in accounting principle does not require additional taxes to be paid or taxes to be refunded, which account is used to record the tax effects of a change in accounting principle?
Multiple choice question.
Deferred tax asset or liability accounts
Other comprehensive income for the period
Income tax expense for the period
Goodwill

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!