Examlex
Instructions:
∙ Identify each item. Give an explanation or description of the item. Answer the questions who, what, where, and when.
Explain the historical significance of each item. Establish the historical context in which the
∙ item exists. Establish the item as the result of or as the cause of other factors existing in the society under study. Answer this question: What were the political, social, economic,
and/or cultural consequences of this item?
-the Quartermaster Department
Deferred Tax Assets
Financial items on a company's balance sheet that reduce future tax liability due to deductible temporary differences, carryforwards, and credits.
Consolidation
The process of combining the financial statements of a parent company with those of its subsidiaries, to present accounts as if the group were a single entity.
Adjustments
Changes made to preliminary financial statement figures to correct errors, account for prepayments, accruals, or to reflect a more accurate representation of the financial position.
Acquisition Method
An accounting technique used in consolidating the financial statements of a group in which a new acquisition is included.
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