The Following Questions Refer to the Figure Above Illustrating Soil

question 47

Multiple Choice

The following questions refer to the figure above illustrating soil horizons.NOTE: The labels are not the actual names of the soil horizons.
-Leaching is caused by

• A) bacterial action.
• B) wind.
• C) water.
• D) microbial activity.
• E) none of these.

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Definitions:

Deferred Tax Liabilities

Future tax payments due to temporary differences between financial accounting and tax accounting practices.

Deferred Tax Assets

Assets on a company's balance sheet that may be used to reduce future tax liability resulting from temporary timing differences between accounting and tax treatments.

Current Tax Liabilities

Taxes owed to the government within the current fiscal year.

Temporary Difference

Refers to the differences that arise between the tax base of an asset or liability and its carrying amount in the financial statements, which will result in taxable or deductible amounts in future years.