Question
The deferred income tax liability: a. Represents income tax payments that are deferred until future years because of temporarydifferences between GAAP rules and tax accounting
The deferred income tax liability: a. Represents income tax payments that are deferred until future years because of temporarydifferences between GAAP rules and tax accounting rules. b. Is a contingent liability.
c. Can result in a deferred income tax asset. d. Is never recorded.
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
9th Edition
0134519264, 9780134519265
