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The annual report of Carol Chemical disclosed the following: Deferred tax assets increased by $751 million and deferred tax liabilities increased by $269 million. How
The annual report of Carol Chemical disclosed the following: Deferred tax assets increased by $751 million and deferred tax liabilities increased by $269 million. How do these balance-sheet changes affect tax expense on the income statement for the year? Select one: a. Increase tax expense by $482 million b. Decrease tax expense by $482 million. c. Decrease tax expense by $1,020 million d. Increase tax expense by $1,020 million e. None of these are correct
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