Examlex
Effective studying is an example of:
Income Tax Rate Change
A modification in the percentage that individuals or corporations are required to pay to the government from their income.
Future Liability
A financial obligation or debt that a company is required to pay at a future date.
Income Tax Expense
The total amount of income tax a company is required to pay to the government, reflected as an expense in its income statement.
Deferred Tax Asset Valuation Allowance
A contra-asset account used to decrease the value of deferred tax assets if it is more likely than not they will not be realized.
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