Name some reasons why the taxable income of a corporation is likely not to be the same as its financial statement net income.   a Depreciation expense on the tax return is typically greater than depreciation expense for financial statements. b Accounts payable are usually different. c Net assets are usually larger on the tax return. d ales amounts differ because of Internet sales.

Taxes affect many financial decisions. Explain how (a)interest and dividend payments are treated for tax purposes, from both a company’s and an investor’s perspective, and (b) how dividends and capital gainsare treated for tax purposes by individuals. In youranswers, explain how these tax treatments influencecorporations’ and investors’ behavior

In computing net business income for income tax purposes, which of the following statements is INCORRECT? Question 3Answer a. Income tax paid is not allowed as a business deduction. b. Depreciation is not allowed as a business deduction. c. Capital cost allowance is not allowed as a business deduction. d. An arbitrary reserve is not allowed as a business deduction.

Tax accounting is a service offered by public accounting firms that involves both tax planning and which of the following?   Multiple Choice   A.)tax compliance   B.)tax avoidance   C.)tax elimination   D.)tax payment.    Please explain incorrect and correct option without plagiarism