Which of the Following Statements Is Not Correct

question 49

Multiple Choice

Which of the following statements is not correct?

• A) All current deferred tax liabilities and assets shall be offset and presented as a single amount on the balance sheet.
• B) Deferred tax assets related to carryforwards shall be classified as current or noncurrent on the balance sheet based on their expected date of reversal.
• C) All current and noncurrent deferred tax assets shall be offset and presented as a single amount on the balance sheet.
• D) Deferred tax liabilities and assets shall be classified as current or noncurrent on the balance sheet based on the classification of the asset or liability giving rise to the deferred tax item.

---

Definitions:

Hypothalamus

A region of the brain responsible for the regulation of certain metabolic processes and other activities of the autonomic nervous system, including temperature control, hunger, and thirst.

Capillary Bed

Networks of small blood vessels that facilitate the exchange of materials (such as oxygen and carbon dioxide) between the blood and tissues.

Sweat Gland

A specialized epidermal structure involved in the production of sweat, playing a key role in body temperature regulation.

Thymus Gland

A gland located in the chest that is part of the immune system, involved in the development of T lymphocytes.