All of the following statements are true EXCEPT:
A) deferred income taxes can be thought of as a liability.
B) deferred income taxes arise because firms are allowed to keep two sets of financial statements; one for shareholders and one for the IRS.
C) deferred income taxes arise because firms are allowed to keep two sets of financial statements; one for the shareholders and one for internal management.
D) deferred income taxes are also referred to as deferred tax liabilities.
C
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Answer the following statements true (T) or false (F)
1. In Deming's PDCA cycle, "A" stands for "act," which means to implement the change or make a small scale test. 2. The two core principles of TQM are people orientation and improvement orientation. 3. TQM assumes that, if given empowerment, employees will focus on strategic goal setting. 4. TQM assumes that it's better to make small improvement all the time.
A primary objective of ______ is to make strategic decisions about the allocation of resources among strategic business units.
a. business unit servicing b. inter-unit resourcing c. strategic resource allocation d. corporate portfolio management
When maintaining customer records, it is best practice to maintain all data in a single CMDB, accessible by all who are authorized.
Answer the following statement true (T) or false (F)
The Elm Street Accounting Partnership has ordered two maroon office chairs for its waiting room from the Quality Office Supply Company. Quality sends two burgundy-red office chairs that the Elm Street partnership rejects. What, if any, rights does Quality have under the circumstances? Explain