What Is a Deferred Tax Asset

question 42

Multiple Choice

What is a deferred tax asset?

• A)A deductible temporary difference that results in future taxable income being less than accounting income.
• B)The amount of income tax recoverable in future periods as a result of deductible temporary differences, losses carried forward, or tax credits carried forward.
• C)A deductible temporary difference that results in future taxable income being higher than accounting income.
• D)The amount of income tax payable in future periods as a result of taxable temporary differences.

---

Definitions:

Bereavement Support

is the assistance, counseling, and emotional comfort provided to individuals who are dealing with the loss of a loved one.

Coping

The process of effectively dealing with stressors or problems, utilizing various strategies or mechanisms.

Grief

The emotional suffering one feels when something or someone the individual loves is taken away, often related to the process of mourning.

Bereavement

The state of loss and grief experienced following the death of a loved one.