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Kricket Corporation earns revenue of $50,000 in 20X5 and is reported on the 20X5 income statement. The revenue will not be reported on Krickets tax
Kricket Corporation earns revenue of $50,000 in 20X5 and is reported on the 20X5 income statement. The revenue will not be reported on Krickets tax return until 20X7. Krickets tax rate is 30 percent. Kricket will recognize a deferred income tax liability of:
Group of answer choices
A) $15,000 in 20X7.
B) $15,000 in 20X5.
C) $30,000 in 20X7.
D) $50,000 in 20X5.
E) $50,000 in 20X7.
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