Deferred taxes occur when a company postpones taxes on profits pertaining to
A. tax years they are under an audit by the Internal Revenue Service.
B. a particular period as they end up postponing part of their tax liability on this year's profits to future years.
C. a loss they intend to carry back or carry forward on their income tax returns.
D. funds they have not collected because they use the accrual method of accounting.
Answer: B
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