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Hi , are these answers correct ?thanks Question 6 Companies are permitted to offset any balances in income taxes payable against A. deferred tax liabilities
Hi , are these answers correct ?thanks Question 6 Companies are permitted to offset any balances in income taxes payable against A. deferred tax liabilities balances. B) related income tax refund receivable or prepaid income taxes balances. C. deferred tax assets balances. D. income tax expense. Question 7 Companies are required to disclose the total of each of the following except A. all deferred tax assets. B all deferred tax liabilities C, the total valuation allowance D. all of these choices must be disclosed. Question 8 Deferred tax expense is the: A increase in a deferred tax liability. B. amount of income taxes payable for the period. C. decrease in a deferred tax liability. D. increase in a deferred tax asset. Question 9 A deferred tax liability represents the: A decrease in taxes saved in future years as a result of deductible temporary differences. B. decrease in taxes payable in future years as a result of taxable temporary differences. C. increase in taxes saved in future years as a result of deductible temporary differences D. increase in taxes payable in future years as a result of taxable temporary differences. Question 10 Using the asset-liability method, deferred taxes should be classified into a net current amount and a net non current amount. A. True B. False
Hi , are these answers correct ?thanks
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