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Which of the following statements concerning deferred taxes is correct? (Points : 2) Deferred taxes will not be found in the asset section of a
Which of the following statements concerning deferred taxes is correct? (Points : 2) Deferred taxes will not be found in the asset section of a balance sheet. Deferred taxes arise from permanent differences in GAAP and tax accounting. Deferred taxes will only decrease when a cash payment is made. Deferred taxes arising from the depreciation of a specific asset will ultimately reduce to zero as the item is depreciated.
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