Deferred Tax Asset 24,750 C) Income Tax Pavable 16) Inferno Inc. is embroiled in a lawsuit. In 2015, they recognize that a loss of $65,000 is probable. Given a tax rate of 30%, how will this be treated in the accounting records? A) deferred tax asset of $19,500 B) deferred tax liability of $19,500 C) deferred tax asset of $65,000 D) deferred tax liability of $65,000 17) Which of the following is an advantage of leasing an asset for the lessee? A) There are lower overall costs for the asset. B) Ownership automatically passes to the lessee at the end of the lease. *C) The lessee absorbs the risk of obsolescence. D) The lessee could obtain an additional source of financing without affecting existing lines of credit