Taxable income of a corporation
a. differs from accounting income due to differences in intraperiod allocation between the two methods of income determination.
b. differs from accounting income due to differences in interperiod allocation and permanent differences between the two methods of income determination.
c. is based on generally accepted accounting principles.
d. is reported on the corporation's income statement.
Answer: differs from accounting income due to differences in interperiod allocation and permanent differences between the two methods of income determination
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