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Question # 1 What is true income for tax purposes is higher than...

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Accounting

Question # 1
What is true income for tax purposes is higher than accounting income?
A) Actual Income taxes payable will be lower than accounting income tax expense.
B) Accounting income tax expense is the same as actual income tax payable
C) Actual income tax payable will be the same as accounting income tax expense
D) Actual income tax payable will be higher than accounting income tax expense.
Question # 2
What will happen if a company increases the amount of inventory it carries?
A) Net income will decrease.
B) CFO will decrease.
C) CFO will increase.
D) Net income will increase.

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