Final answer:
Taxable income is not determined according to IFRS but by the tax laws of the relevant jurisdiction, whereas income before taxes, financial reporting, and book purposes are influenced by IFRS standards.
Step-by-step explanation:
Among the given choices, taxable income is not determined according to International Financial Reporting Standards (IFRS). While concepts like income before taxes, income for financial reporting purposes, and income for book purposes are well-defined by accounting standards such as IFRS, taxable income is determined by the tax laws and regulations of the jurisdiction in which a company operates.
Taxable income is influenced by financial statement income but involves specific considerations such as tax deductions, exemptions, and credits that are dictated by the tax legislation of the relevant country. The variability in tax regulations and the discretion they afford in determining taxable income distinguish it from the more standardized and globally applicable principles set forth by IFRS in accounting for financial reporting purposes.