Which one is not correct in the context of tax accounting? (a) Deferred tax liability might have
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Question:
Which one is not correct in the context of tax accounting?
(a) Deferred tax liability might have resulted when tax expense on the income statement is less than tax payment based on tax code
(b) Non-taxable expense causes permanent differences between pretax accounting income and taxable income
(c) Corporate income tax is an expense, not a distribution of profits to the government
(d) Deferred tax assets might have resulted from loss carryback.
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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