Deferred Income Taxes Arise from

question 48

Multiple Choice

Deferred income taxes arise from

• A) Differences between accounting standards and IRS rules
• B) The postponement of tax payments due to cash shortage
• C) A special tax created by the IRS
• D) A net loss

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Definitions:

Religious Belief

A conviction or faith regarding the existence, nature, and worship of a deity or deities, and the divine involvement in the universe and human life.

Ontological Argument

A philosophical argument for the existence of God based on the premise that the very concept of God implies his existence.

Kant

A German philosopher who is a central figure in modern philosophy, known for his works on epistemology, ethics, and aesthetics.

Cosmological Argument

An argument (or set of arguments) that undertakes to prove that God exists on the basis of the idea that there must have been a first cause or an ultimate reason for the existence of the universe (the cosmos).