Which of the following definitions used in account
Which of the following definitions used in accounting for income taxes is least accurate?
A.Income tax expense is based on current period pretax income adjusted for any changes in deferred tax assets and liabilities.
B.A valuation allowance is a reserve against deferred tax assets based on the likelihood that those assets will not be realized.
C.A deferred tax liability is created when tax expense is less than taxes payable and the difference is expected to reverse in future years.
参考解答
486***973
2024-10-16 09:43:19
Ans:C.
Deferred tax liability refers to balance sheet amounts that are created when tax expense is greater than taxes payable.
相似问题
Under U.S.GAAP which of the following factors is
Under U S GAAP, which of the following factors is an analyst least likely to consider when determining if a company’s defer
Which of the following statements most accurately
Which of the following statements most accurately describes a valuation allowance for deferred taxes? A valuation allowance is
At the beginning of the year a company purchased a
At the beginning of the year a company purchased a fixed asset for $500,000 with no expected residual value The company dep
A financial analyst would classify deferred tax li
A financial analyst would classify deferred tax liabilities as equity (versus a liability) when:A the deferred tax liabilities
Which of the following statements regarding deferr
Which of the following statements regarding deferred taxes is least accurate?A A permanent difference is a difference between
