A Deferred Tax Asset Is the Expected Future Tax Benefit

question 136

True/False

A deferred tax asset is the expected future tax benefit (savings) associated with income reported in the current-year
GAAP financial statements.

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Definitions:

Cognitive Processes

Mental activities that include thinking, knowing, remembering, judging, and problem-solving.

Operant Conditioning

An instructional process in which the magnitude of a behavior is fine-tuned by using positive or negative feedback.

Variable-ratio

A reinforcement schedule in behavioral psychology where a response is reinforced after an unpredictable number of responses.

Latent Learning

A form of learning that occurs without any obvious reinforcement of the behavior or associations that are learned.