The following information was taken from the 2012 annual report of Emerson, a leader in process management,
Question:
The following information was taken from the 2012 annual report of Emerson, a leader in process management, technology, network power, and industrial automation (dollars in millions):
REQUIRED:
Comment on whether Emerson’s financial accounting methods have been conservative or aggressive across the three-yearperiod.
Transcribed Image Text:
2012 2011 2010 Net income before taxes $3,115 $3,631 $2,879 Income tax expense: Current Deferred Total 1,277 1,017 942 186) 110 (94) $1,091 $1,127 $ 848 0.350 0.310 0.294 Effective tax rate
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