The following information is taken from the annual report of The Coca-Cola Company (KO): The footnotes to

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The following information is taken from the annual report of The Coca-Cola Company (KO):

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The footnotes to the company’s annual report reveal that the primary contributor to its deferred income tax liability was its accounting for trademarks and other intangible assets. According to The Coca-Cola Company:

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Discuss why and how the company’s accounting for intangible assets results in a deferred income tax liability.
The long-term deferred income tax liability for trademarks and other intangible assets decreased by \($172\) million from 2013 to 2014; what does this decline suggest?

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