What Adjustment Is Required to the Opening Deferred Taxes as a Result

question 60

Multiple Choice

What adjustment is required to the opening deferred taxes as a result of the rate change?

• A)40,000 debit
• B)40,000 credit
• C)130,000 credit
• D)190,000 credit

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Definitions:

Author of Misfortune

A term denoting the individual or entity primarily responsible for a harmful event or situation.

Icy Sidewalk

An icy sidewalk is a pavement covered in ice, often posing a hazard due to the increased risk of slipping and falling.

Foreseen Risk

A foreseen risk is a potential problem or hazard that has been identified or could be reasonably anticipated in advance, often highlighting the importance of planning or mitigation efforts.

Injury

Physical harm or damage to the body caused by an accident or event.