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Use the Following Information for Questions 70 Through 72

question 72

Multiple Choice

Use the following information for questions 70 through 72.
Lyons Company deducts insurance expense of $126,000 for tax purposes in 2014, but the expense is not yet recognized for accounting purposes. In 2015, 2016, and 2017, no insurance expense will be deducted for tax purposes, but $42,000 of insurance expense will be reported for accounting purposes in each of these years. Lyons Company has a tax rate of 40% and income taxes payable of $108,000 at the end of 2014. There were no deferred taxes at the beginning of 2014.
-What is the amount of the deferred tax liability at the end of 2014?

Understand how flexible work arrangements can serve as cost-cutting measures while maintaining employee jobs during financial difficulties.

Explore how flexibility in work arrangements supports organizational goals by promoting employee well-being.

Understand the gender and age differences in depression prevalence.

Recognize the impact of neurotransmitter levels on mood disorders such as depression.

Definitions:

Heredity

The genetic transmission of characteristics from parents to their offspring, affecting traits such as height, eye color, and susceptibility to certain diseases.

Intellectual Development

The progress of cognitive abilities such as thinking, reasoning, problem-solving, and information processing over the lifecycle.

Giftedness

Characteristics referring to individuals, particularly children, who exhibit exceptional levels of aptitude or competence in one or more domains.

Creativity

The use of imagination or original ideas to create something; inventiveness that is often applied in artistic endeavours and problem-solving.