Register now or log in to join your professional community.
a.Represents income tax payments that are deferred until future years because of temporary differences 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.
Option A is correct. defer tax liability occur when taxable income smaller than income reported in income statement.
Option A .................!!!!!
Option A is correct ... Represents income tax payments that are deferred until future years because of temporary differences between GAAP rules and tax accounting rules
