Which of the Following Results in a Deferred Tax Asset

question 58

Multiple Choice

Which of the following results in a deferred tax asset?

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

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Definitions:

Amenorrhea

The absence of menstruation in women of reproductive age, which can be a symptom of health issues or physical exertion and stress.

DSM-5

The 5th edition of the Diagnostic and Statistical Manual of Mental Disorders, a standardized classification and diagnostic tool used by mental health professionals.

Binge/Purge Type

A subtype of certain eating disorders, where individuals engage in recurrent episodes of binge eating followed by purging to prevent weight gain.

Anorexia Nervosa

An eating disorder characterized by an intense fear of gaining weight, leading to restricted food intake and excessive weight loss.