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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 5 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
How should Hob-son International report tax on the extraordinary item? A. A tax receivable of $12 million in the balance sheet. B. A tax benefit of $12 million to net against the S30 million pretax loss. C. A deferred tax asset of $12 million in the balance sheet. 1). None of the above. The extraordinary loss is reported in the income statement net of $12 tax benefit [S30 - ($30 x 40%) — S18].
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