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All of the following statements concerning deferred income taxes are true except: Group of answer choices A) Differences in income calculated for financial reporting purposes
All of the following statements concerning deferred income taxes are true except:
Group of answer choices
A) Differences in income calculated for financial reporting purposes and for tax reporting purposes are largely a result of the different goals of the two systems.
B) Current and deferred tax liabilities are based on current tax rates and should not give consideration to changes in enacted tax rates.
C) Temporary differences in financial reporting and tax reporting result in deferred taxes.
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