Explain how it is possible to have a deferred tax liability with regard to the presentation of a subsidiarys assets

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Explain how it is possible to have a deferred tax liability with regard to the presentation of a subsidiary’s assets in a consolidated balance sheet, whereas on the subsidiary’s balance sheet the same assets produce a deferred tax asset.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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Related Book For  answer-question

Modern Advanced Accounting In Canada

ISBN: 9781259066481

7th Edition

Authors: Hilton Murray, Herauf Darrell

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Question Posted: June 08, 2015 08:17:07