Which of the Following Results in a Deferred Tax Asset

question 78

Multiple Choice

Which of the following results in a deferred tax asset?

• A) Revenue or gains are recognized earlier for book purposes than for tax purposes.
• B) Operating loss or tax credit carryforwards exist.
• C) Tax basis of an asset is less than its book.
• D) Expenses are deductible earlier for tax purposes than for book purposes.

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Definitions:

Depression And Mania

Psychological conditions characterized by extreme moods; depression involves persistent sadness, while mania involves elevated or irritable mood states.

Mood States

Temporary emotional states or attitudes that can vary in intensity and duration, influencing perception and behavior.

Antisocial Personality Disorder

A mental health disorder characterized by a long-term pattern of manipulating, exploiting, or violating the rights of others, often marked by a lack of empathy and remorse.

Lack Of Regard

An attitude or behavior characterized by a dismissive or indifferent stance towards others' feelings, needs, or concerns.