Future Tax Deductions

question 49

Multiple Choice

Future tax deductions:

• A) result in deferred tax assets.
• B) result in deferred tax liabilities.
• C) occur where the tax basis of liabilities is more than the financial reporting basis.
• D) occur where the tax basis of assets is less than financial reporting basis.

---

Definitions:

Daily Drinking

The habit or practice of consuming alcoholic beverages on a daily basis.

Axis II Disorders

A classification previously used in the Diagnostic and Statistical Manual of Mental Disorders (DSM) for personality disorders and intellectual disabilities, emphasizing long-term aspects of mental health.

Initial Substance Use

The first time an individual consumes drugs or alcohol, which can be a critical point for developing substance use disorders.

Self-esteem

An individual’s subjective evaluation of their own worth or value, encompassing beliefs about oneself as well as emotional states.