Listed Below Are 5 Terms Followed by a List of Phrases

question 124

Multiple Choice

Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the most correct term.
-Deferred tax asset

• A)Is usually a revenue or expense item that is excluded or not deductible in determining taxable income.
• B)Is reduced by a valuation allowance if realization of future tax benefit is not more likely than not.
• C)Arises when future taxable amounts are created by temporary differences.
• D)Is the process of allocating income taxes among two or more reporting periods.
• E)Will always create a deferred tax asset.

---

Definitions:

Performance Tests

Evaluations based on task or skill execution rather than answers to written questions, typically measuring competence in specific areas.

Achievement Tests

Assessments designed to measure an individual's knowledge or proficiency in a particular area or subject.

IQ Tests

Standardized assessments designed to measure human intelligence.

Culture-Fair Test

A culture-fair test is designed to minimize the influence of cultural and social background, language, and education, so as to assess intelligence or ability in a way that is equitable to all participants.