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What is the basic difference between comets and asteroids?
Deferred Taxes
Deferred taxes are future tax liabilities or assets, reflecting the temporary differences between the accounting income and taxable income.
GAAP
Generally Accepted Accounting Principles are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements in the United States.
Capitalize
The accounting practice of recording a cost or expense on the balance sheet for purposes of delaying full recognition of the expense over time through depreciation or amortization.
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return.
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