CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

Deductible temporary differences result in a deferred tax ______ when the carrying amount of a liability is ______ than its tax base.
A. asset; more
B. asset; less
C. liability; more
Explanation: Or when the carrying amount of an asset is less than its tax base.

User Contributed Comments 2

User Comment
CJPerugini Liability = Opposite of Asset
xray123 Good point CJPerugini.
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