CONNECT F/ INTERMEDIATE ACCTING>I<
10th Edition
ISBN: 9781260951585
Author: SPICELAND
Publisher: MCG
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Chapter 16, Problem 16.31E
Concepts; terminology
• LO16–1 through LO16–8
Listed below are several terms and phrases associated with accounting for income taxes. Pair each item from List A with the item from List B (by letter) that is most appropriately associated with it.
List A | List B |
_____ 1. No tax consequences | a. |
_____ 2. Originates, then reverses | b. |
_____ 3. Revise deferred tax amounts | c. 2 years |
_____ 4. Operating loss | d. Current and deferred tax consequence combined |
_____ 5. Future tax effect of prepaid expenses; tax deductible when paid | e. Temporary difference |
_____ 6. Loss carryback | f. Specific tax rates times amounts reversing each year |
_____ 7. Future tax effect of estimated warranty expense | g. Nontemporary differences |
_____ 8. Valuation allowance | h. When enacted tax rate changes |
_____ 9. Phased-in change in rates | i. Net deferred tax asset or liability |
_____ 10. Balance sheet presentation | j. “More likely than not” test |
_____ 11. Individual tax consequences of financial statement components | k. Intraperiod tax allocation |
_____ 12. Income tax expense | l. Negative taxable income |
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Chapter 16 Solutions
CONNECT F/ INTERMEDIATE ACCTING>I<
Ch. 16 - Prob. 16.1QCh. 16 - A deferred tax liability (or asset) is described...Ch. 16 - Prob. 16.3QCh. 16 - Prob. 16.4QCh. 16 - Temporary differences result in future taxable or...Ch. 16 - Identify three examples of differences with no...Ch. 16 - The income tax rate for Hudson Refinery has been...Ch. 16 - A net operating loss occurs when tax-deductible...Ch. 16 - Prob. 16.10QCh. 16 - Additional disclosures are required pertaining to...
Ch. 16 - Additional disclosures are required pertaining to...Ch. 16 - Prob. 16.13QCh. 16 - Prob. 16.14QCh. 16 - IFRS and U.S. GAAP follow similar approaches to...Ch. 16 - Valuation allowance LO162, LO163 VeriFone Systems...Ch. 16 - Prob. 16.8ECh. 16 - Identify future taxable amounts and future...Ch. 16 - Prob. 16.14ECh. 16 - Identifying income tax deferrals LO161, LO162,...Ch. 16 - Concepts; terminology LO161 through LO168 Listed...Ch. 16 - FASB codification research LO165, LO168, LO1610...Ch. 16 - Prob. 16.1DMPCh. 16 - Prob. 16.2DMPCh. 16 - Prob. 16.9DMP
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