A Deductible Temporary Difference Is One That Will Result In

question 72

Multiple Choice

A deductible temporary difference is one that will result in:

• A) a decrease in income tax recoverable in future reporting periods when the carrying amount of the asset or liability is recovered or settled.
• B) an increase in income tax payable in future reporting periods when the carrying amount of the asset or liability is recovered or settled.
• C) a decrease in income tax recoverable in future reporting periods when the carrying amount of the asset or liability is recovered or settled, and an increase in income tax payable in future reporting periods when the carrying amount of the asset or liability is recovered or settled.
• D) a decrease in income tax payable in future reporting periods when the carrying amount of the asset or liability is recovered or settled.

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Definitions:

Working Memory

The part of short-term memory that is concerned with immediate conscious perceptual and linguistic processing.

Recall

The cognitive action of retrieving information or memories from the past.

County Seats

The administrative centers or capitals of counties, typically housing government offices and courthouses.

Morgantown

A city in West Virginia, known for housing West Virginia University.