Under IAS 1,Presentation of Financial Statements,how Must Deferred Taxes Be

question 16

Multiple Choice

Under IAS 1,Presentation of Financial Statements,how must deferred taxes be classified on the balance sheet?

• A)as either a current asset or a current liability
• B)as always a noncurrent asset or a noncurrent liability
• C)as either a current or noncurrent asset or liability based on the expected timing of realization
• D)as a separately stated positive or negative component of equity

---

Definitions:

Truman

Harry S. Truman, the 33rd President of the United States, who led the country through the final stages of World War II and the beginning of the Cold War.

Cultural Cold War

The rivalry between the United States and Soviet Union during the Cold War era, focusing on ideological and cultural propaganda to influence other nations and their own citizens.

Central Intelligence Agency

A civilian foreign intelligence service of the federal government of the United States, tasked with gathering, processing, and analyzing national security information.

Defense Department

A sector of a government responsible for implementing defense policy, managing the armed forces, and ensuring national security.