Question: Which statement is correct? Question 6 options: Accounting income is generally similar to taxable income. Financial reporting rules are generally consistent with tax reporting rules.

Which statement is correct?

Question 6 options:

Accounting income is generally similar to taxable income.

Financial reporting rules are generally consistent with tax reporting rules.

Tax rules are generally consistent the principles used in accrual accounting.

Tax rules generally require a higher degree of reliability than financial reporting.

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