A deferred tax liability (or asset) is described as the tax effect of the temporary difference between

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A deferred tax liability (or asset) is described as the tax effect of the temporary difference between the financial statement carrying amount of an asset or liability and its tax basis. Explain this tax effect of the temporary difference. How might it produce a deferred tax liability? A deferred tax asset?

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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