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1 If Financial Income > Taxable Income, do we have a Deferred Tax Asset or Deferred Tax Liability ? Give examples of situations that can
| 1 | If Financial Income > Taxable Income, do we have a Deferred Tax Asset or Deferred Tax Liability ? |
| Give examples of situations that can create this situation | |
| What is the typical JE to record this type of transation? | |
| 2 | Financial Income < Taxable Income, do we have a Deferred Tax Asset or Deferred Tax Liability ? |
| Give examples of situations that can create this situation | |
| What is the typical JE to record this type of transation? | |
| 3 | Explain the principle of NOL carryforwards. |
| What is the typical JE to record the carryforward | |
| What is the typical JE to create an allowance for a Deferred Asset ? | |
| What is the typical JE to use the Tax Asset and not pay tax in future year. |
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