Use the Following to Answer Questions

question 136

Multiple Choice

Use the following to answer questions
For its first year of operations,Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:
Tringali's tax rate is 40%.Assume that no estimated taxes have been paid.
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Tringali's tax rate is 40%.
What should Tringali report as its deferred income tax liability as of the end of its first year of operations?

• A)$35,000.
• B)$20,000.
• C)$14,000.
• D)$ 8,000.

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Definitions:

Qualitative Analysis

In microbiology, identification of bacteria present in a specimen by the appearance of colonies grown on a culture plate.

Substances

Materials or compounds that have a distinct physical presence and chemical composition.

Resident Normal Flora

Bacteria, fungi, and protozoa that have taken up residence either in or on the human body. Some of these organisms neither help nor harm the host and some are beneficial, creating a barrier against pathogens.

Pathogenic

Capable of causing disease when introduced into the body.