Long-term liability for deferred income taxes


The long-term liability for deferred income taxes arises because:

a. some book income will never be subject to income tax.

b. some expenses are deducted for tax purposes before they are deducted for book purposes.

c. income tax rates change from year to year.

d. the company has not paid income taxes currently due.

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Accounting Basics: Long-term liability for deferred income taxes
Reference No:- TGS053106

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