when congress changes the tax laws or rates, a corporation's deferred tax liability and asset accounts Are not adjusted are adjusted as of the end of the year in which the change occurred are adjusted using the average of the old and the new tax rates are adjusted as of the beginning of the year in which the change occurred
when congress changes the tax laws or rates, a corporation's deferred tax liability and asset accounts Are not adjusted are adjusted as of the end of the year in which the change occurred are adjusted using the average of the old and the new tax rates are adjusted as of the beginning of the year in which the change occurred
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter18: Accounting For Income Taxes
Section: Chapter Questions
Problem 12GI
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when congress changes the tax laws or rates, a corporation's
Are not adjusted
are adjusted as of the end of the year in which the change occurred
are adjusted using the average of the old and the new tax rates
are adjusted as of the beginning of the year in which the change occurred
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