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Go to the Tax Foundation Website to read the article titled " Three Differences Between Tax and Book Accounting that Legislators Need to Know," dated...

Go to the Tax Foundation Website to read the article titled “ Three Differences Between Tax and Book Accounting that Legislators Need to Know,” dated July 27, 2011, located at here. Be prepared to discuss.

http://taxfoundation.org/article/three-differences-between-tax-and-book-accounting-legislators-need-know

Taxable Income versus Accounting Income" Please respond to the following:

From the second e-Activity, GAAP rules are intended to promote uniform statements that accurately convey the financial history, health, and prospects of a business, while the tax code is intended to generate revenues for the government but also achieve certain public policy goals. Take a position whether companies should be required to use the same accounting methods for tax purposes as used for GAAP. Explain your position.
Discuss the impact using the same accounting methods have on tax payments. Provide an example, situation, or scenario to support your response.
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Go to the Tax Foundation Website to read the article titled “ Three Differences Between Tax and Book Accounting
that Legislators Need to Know,” dated July 27, 2011, located at here. Be prepared...

Sign up to view the full answer

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