Dec 23, 2020 · CORRECT ANSWER IS OPTION D) Deductible temporary difference give rise to deferred tax liability , meaning that more tax is payable in the ...

Aug 8, 2023 · The statement that is not correct is: Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable ...

This results in a so-called deductible temporary difference and a deferred tax asset. For example, a deferred tax asset arises where an expense is recognised in ...

Mar 31, 2023 · In accordance with ASC 805-740-25-3, recognition of deferred tax assets and liabilities is required for substantially all temporary differences ...

Under ASC 740-10-25-20, recognition of deferred taxes assumes that the carrying value of an asset will be recovered through sale or depreciation. Thus, although ...

A deferred tax liability is a listing on a company's balance sheet that records taxes that are owed but are not due to be paid until a future date.

A deferred tax liability is recognized for temporary differences that will result in net taxable amounts in future years. For example, a temporary difference is ...