Use the Following Information for Questions

question 70

Multiple Choice

Use the following information for questions.
At the beginning of 2010; Elephant, Inc.had a deferred tax asset of $4,000 and a deferred tax liability of $6,000.Pre-tax accounting income for 2010 was $300,000 and the enacted tax rate is 40%.The following items are included in Elephant's pre-tax income:

-The ending balance in Elephant, Inc's deferred tax liability at December 31, 2010 is

• A)$9,200
• B)$15,200
• C)$10,400
• D)$31,200

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Definitions:

Problem-Solving Approach

A systematic process of addressing issues or challenges by identifying the problem, analyzing its causes, generating solutions, and implementing them.

Ombudsperson

A neutral intermediary appointed to investigate complaints and mediate fair settlements between parties, especially in an institutional or organizational setting.

Peer-Review Boards

Committees made up of employees who review decisions or actions (such as disputes or grievances) within an organization, offering a form of internal oversight.

Fast-Track

A process or program designed to speed up employee development or career advancement, often by providing intensive training and opportunities.