Babyhands3624 Babyhands3624
  • 02-09-2019
  • Business
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What is meant by "tax allocation within a period"? What is the justification for such practices?

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federico1636
federico1636 federico1636
  • 13-09-2019

Answer:

Tax allocation within a period is the practice of allocating the income tax for a period to such items as income before extraordinary items, extraordinary items and period adjustments.

Explanation:

The justification for tax allocation within a period is to produce financial statements which disclose an appropriate relationship of the different taxable income.

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