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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
