What-are-the-components-of-Income-tax-expenses-accounting-homework-help

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1. What are the components of Income tax expenses?

2. Explain the reason why the tax laws promote a more accelerated depreciation than what is typically used for financial reporting purposes? Are there social and/or economic reasons for this difference?

3. Explain how these liabilities (and/or deferred tax assets) affected by changes in tax rates? How would a company address such a change?

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