Which of the following statements regarding deferred taxes is least accurate？A.A perm
Which of the following statements regarding deferred taxes is least accurate？
A.A permanent difference is a difference between taxable income and pretax income that will not reverse.
B.A deferred tax asset is created when a temporary difference results in taxable income that exceeds pretax income.
C.Deferred tax assets and liabilities are not adjusted for changes in tax rates.
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搜題
第1題
Which of the following statements most accurately describes a valuation allowance for deferred taxes? A valuation allowance is required under:
A.IFRS on revaluation of capital assets.
B.U.S.GAAP if there is doubt about whether a deferred tax asset will be recovered.
C.both IFRS and U.S.GAAP on tax differences arising from the translation of foreign operations.
第2題
A company records $42,000 more in tax depreciation than in book depreciation. Assuming a 35% tax rate will apply in the future, how much will be record as a deferred tax liability during the year?
A. $14,700.
B. $27,300.
C. $42,000.
第3題
A company purchased equipment for $50,000 on 1 January 2009. It is depreciating the equipment over a period of 10 years on a straight-line basis for accounting purposes, but for tax purposes, it is using the declining balance method at a rate of 20%. Given a tax rate of 30%, the deferred tax liability as at the end of 2011 isclosest to:
A. $420.
B. $2,820.
C. $6,720.
第4題
A firm reported higher deferred tax liabilities than deferred tax assets. Using the liability method of accounting for deferred taxes, a growing firm would expect an increase in the statutory tax rate to result in:
A. Increase equity
B. Decrease equity
C. No change in equity
