If during the current year, taxable profit is greater than accounting profit and the difference is a temporary difference, *
If during the current year, taxable profit is greater than accounting profit and the difference is a temporary difference, *
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 36P
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Transcribed Image Text:If during the current year, taxable profit is greater than accounting profit and the
difference is a temporary difference,
O deferred tax asset will be recognized in future years.
O a deferred tax liability is recognized at the end of the current year.
O a deferred tax liability will be recognized in future years.
O a deferred tax asset is recognized at the end of the current year.
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