50. Assume U.S. GAAP (generally accepted accounting principles) applies unless
otherwise noted.
A company reports net income of $800,000 for the year. The table below
indicates selected items which were included in net income and their associated
tax status.
Included in determining
Net Income Tax Status
Depreciation Expense $70,000 $90,000 allowed for tax purposes
Dividend Income $120,000 Dividends not taxable
Fine related to
environmental damage $100,000 Not deductible for tax purposes
R&D Expenditures $50,000 $20,000 allowed for tax purposes
The company’s tax rate is 35 percent. The company’s current income taxes
payable (in $) is closest to:
A. 206,500.
B. 276,500.
C. 360,500.
By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to
currently-registered CFA candidates. Candidates may view and print the exam for personal exam
preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal
action: accessing or permitting access by anyone other than currently-registered CFA candidates; copying,
posting to any website, emailing, distributing and/or reprinting the mock exam for any purpose.
Bạn đang xem 50. - CFA MOCK EXAM LEVEL I MOCK EXAM MORNING 2009