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.

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Definitions:

Tardive Dyskinesia

A side effect of certain antipsychotic medications, characterized by involuntary, repetitive body movements.

Delusions

Delusions are false beliefs held with strong conviction despite superior evidence to the contrary, often due to a psychological disorder.

Genetic Factors

Elements within an organism's genes that influence traits, behaviors, and susceptibility to diseases.

Psychodynamic Approach

A psychological theory that emphasizes unconscious processes and childhood experiences in shaping behavior and personality.