Which of the Following Statements Is Correct

question 66

Multiple Choice

Which of the following statements is correct?

• A) Deferred tax assets/liabilities are always classified as current on the balance sheet.
• B) The classification of deferred tax assets/liabilities depends on whether the related asset is current or noncurrent.
• C) Deferred tax assets are classified based on their expected reversal dates.
• D) Deferred tax assets/liabilities are classified as noncurrent on the balance sheet.