Which one is not correct in the context of tax accounting? a. Deferred tax liability might be
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Question:
Which one is not correct in the context of tax accounting?
a. Deferred tax liability might be resulted when tax expense on income statement is less than tax payment based on tax code.Recorded is less than payment b. Non taxable expense causes permanent differences between pretax accounting income and taxable income.c. Corporate income tax is an expense, not a distribution of profits to the governmentd. Deferred tax assets might be resulted from Loss Carryback.
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