Corporate accounting

Question 4 Not yet answered Marked out of 1.00 Flag question A Limited acquired B Limited for $150 000. At acquisition date the fair value of the B Limited's Land was $50 000 and the book value was $40 000. If the company tax rate is 30%, which of the following is the appropriate adjustment to recognise the tax effect of the business combination revaluation of Land? a. CR Deferred tax asset $3 000 O b. DR Deferred tax asset $3 000 O c. DR Deferred tax liability $3 000 O d. CR Deferred tax liability $3 000