Question
Which one is not correct in the context of tax accounting? (a) Deferred tax liability might have resulted when tax expense on the income statement
Which one is not correct in the context of tax accounting?
(a) Deferred tax liability might have resulted when tax expense on the income statement is less than tax payment based on tax code
(b) Non-taxable expense causes permanent differences between pretax accounting income and taxable income
(c) Corporate income tax is an expense, not a distribution of profits to the government
(d) Deferred tax assets might have resulted from loss carryback.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
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