Sometimes a temporary difference will produce future deductible amounts. Explain what is meant by future deductible amounts.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (8 reviews)
Future deductible amounts mean that taxable income will be decreased relative to pretax accounting ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Question Posted:
Students also viewed these Accounting questions
-
Explain what is meant by objective setting and describe the four types of objectives used in ERM.
-
Explain what is meant by prospective financial statements and distinguish between forecasts and projections. What four things are involved in an examination of prospective financial statements?
-
Explain what is meant by block sample selection and describe how an auditor can obtain five blocks of 20 sales invoices from a sales journal.
-
The current zero-coupon yield curve of semi-annually compounded rates for risk-free bonds is as follows: 1.0 Years 1.5 Years 2.0 Years 2.5 Years 3.0 Years 9.00% 10.20% 3.00% 4.00% 6.20% MATURITY 0.5...
-
For each pair of compounds, predict which compound has the higher boiling point. Check Table 6-2 to see if your prediction was right, then explain why that compound has the higher boiling point. (a)...
-
The accounts receivable balance for Don's Shoe Repair at December 31, 2013, was $76,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $3,200. During 2014, $2,900 of...
-
Define fatigue and endurance limit.
-
St. Marks Hospital contains 450 beds. The average occupancy rate is 80% per month. In other words, on average, 80% of the hospitals beds are occupied by patients. At this level of occupancy, the...
-
herokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit...
-
Consider the same vortex filament as in Prob. 5.1. Consider also a straight line through the center of the loop, perpendicular to the plane of the loop. Let A be the distance along this line,...
-
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...
-
The benefit of future deductible amounts can be achieved only if future income is sufficient to take advantage of the deferred deductions. For that reason, not all deferred tax assets will ultimately...
-
What feature of the acquisition and expenditure control would be expected to prevent an employees embezzling cash through creation of fictitious vouchers?
-
The following transactions occurred for Lawrence Engineering: Requirements 1. Open the following T-accounts for Lawrence Engineering: Cash; Accounts Receivable; Office Supplies; Equipment; Accounts...
-
Consider the following accounting terms and definitions and match each term to the definition: 1. Accounting equation 2. Asset 3. Balance sheet 4. Expense 5. Income statement 6. Liability 7. Net...
-
Which sequence correctly summarizes the accounting process? a. Journalize transactions, post to the accounts, prepare a trial balance. b. Journalize transactions, prepare a trial balance, post to the...
-
Unique Media Sign Incorporated sells on account. Recently, Unique reported the following figures: Requirements 1. Compute Uniques days sales in receivables for 2024. (Round to the nearest day.) 2....
-
What do closing entries accomplish? a. Zero out the revenues, expenses, and dividends b. Transfer revenues, expenses, and dividends to the Retained Earnings account c. Bring the Retained Earnings...
-
Morphine, C 17 H 19 O 3 N, is a potent painkiller. Suppose you are studying morphine and need to predict the pH of a morphine solution during a titration. Calculate the pH at the stoichiometric point...
-
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
-
If the business community becomes more optimistic about the profitability of capital, the ________ curve for loanable funds would shift, driving the equilibrium interest rate ________. a. supply; up...
-
What is meant by the term underlying as it relates to derivative financial instruments?
-
What is meant by the term underlying as it relates to derivative financial instruments?
-
What is meant by the term underlying as it relates to derivative financial instruments?
-
Imagine yourself at a fair playing one of the midway games. Pick a game and calculate the expected value and post your results along with how you calculated them.
-
1. What is the ratio of 2 lengths which are 25 cm and 7.5 m respectively?
-
If f(x, t) does not depend on x, then we have x' = f(t), so that x(t) = (0 to t) f(u)du. Show that, in this case, the RK4 algorithm reduces to Simpson's rule.
Study smarter with the SolutionInn App