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Basic Question 1 of 2
Current deferred tax assets and current deferred tax liabilities are offset against each other and reported at their net amount on the balance sheet. True or False?
User Contributed Comments 2
| User | Comment |
|---|---|
| kalps | Only net amount reorded on the face of the balance sheet, the two are shown seperately in the notes to the accounts |
| surjoy | But current deferred tax assets and non-current deferred tax liabilities are not offset against each other. |
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Learning Outcome Statements
analyze disclosures relating to deferred tax items and the effective tax rate reconciliation and explain how information included in these disclosures affects a company's financial statements and financial ratios;
CFA® 2024 Level I Curriculum, Volume 3, Module 24.