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At the end of 2014, the only expected future temporary difference is implied by the following account found in the balance sheet:Prepaid rent = $22,000
At the end of 2014, the only expected future temporary difference is implied by the following account found in the balance sheet:Prepaid rent = $22,000
The footnotes reveal that the prepaid rent applies only to 2015. You would also expect to find which of the following in the balance sheet:
Question 8 options:
Current deferred tax liability
Current deferred tax asset
Noncurrent deferred tax liability
Noncurrent deferred tax asset
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