When a Company Has a Credit Balance in Its Deferred

question 40

Multiple Choice

When a company has a credit balance in its Deferred Tax account,this amount would appear as a(n)

• A)contra asset on the balance sheet.
• B)stockholders' equity account on the balance sheet.
• C)expense account on the income statement.
• D)liability account on the balance sheet.

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Definitions:

Ranks Of Data

The ordering of data points based on their size or magnitude, usually from the smallest to the largest.

Nonparametric Counterpart

A statistical method or test that does not assume a specific distribution for the data, suitable for ordinal or nominal data.

Pearson Correlation

A measure of the linear correlation between two variables, quantifying the degree to which their movements are associated.

Approximate Normal

Describes a distribution that is close to, but not exactly, a normal distribution.