Which of the following is a true statement regarding deferred taxes under APB No. 11?
a. They were adjusted for tax rate changes.
b. They were viewed as deferred credits.
c. They resulted in balance sheet taking precedence over the income statement in accounting for income taxes.
d. They were considered liabilities.
ANSWER: B
You might also like to view...
A cost accounting system is a system for accumulating detailed information about the cost of producing a product
a. True b. False Indicate whether the statement is true or false
Jose was getting ready for his first performance evaluation at his new company. The room where the evaluation was to take place was cramped and dimly lit. He was uncomfortable and this highlighted his nervousness. Though he had prepared for an open, honest discussion with his supervisor, he found himself to be more defensive when he was confronted with constructive feedback. What element of the importance of human communication in business and professional contexts does this example illustrate?
a. Communicators are impacted by their previous communication experiences. b. Role-taking is critical to the success of business and professional communication. c. Feedback is critical to the success of business and professional communication. d. Physical surroundings influence communicators.
The budgeted amount of selling and administrative expense for a period can be found in the
a. sales budget. b. cash budget. c. pro forma income statement. d. pro forma balance sheet.
At which point in the STP process does a firm ensure its segmentation strategy is consistent with and derived from its strengths, weaknesses, opportunities, and threats?
A. when the firm articulates the vision or objectives of its marketing strategy B. when the firm determines which segment is worth pursuing C. when the firm presents the value of its product or service D. when the firm assesses the attractiveness of a target market E. when the firm chooses a particular method for segmenting its market