As a result of using accelerated depreciation for tax purposes, The Starburst Company reported $490 million income
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Question:
As a result of using accelerated depreciation for tax purposes, The Starburst Company reported $490 million income tax expense in its income statement, while the actual amount of taxes paid by the company was $422 million.
How did this tax transaction affect the company s deferred tax liability?
- increase
- decrease
- can t tell
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