At the End of 2014,the Only Expected Future Temporary Difference

question 2

Multiple Choice

At the end of 2014,the only expected future temporary difference is implied by the following account found in the balance sheet: The footnotes reveal that the prepaid rent applies only to 2015.You would also expect to find which of the following in the balance sheet:

• A) Current deferred tax liability
• B) Current deferred tax asset
• C) Noncurrent deferred tax liability
• D) Noncurrent deferred tax asset

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Definitions:

Endocrine Glands

Glands of the endocrine system that secrete hormones directly into the bloodstream, rather than through ducts.

Hormones

Chemical messengers produced by the endocrine glands that are transported by the bloodstream to target organs to regulate physiology and behavior.

Diaphragm Muscle

The diaphragm muscle is a large, dome-shaped muscle located at the base of the lungs, playing a crucial role in the breathing process by contracting and relaxing to change the volume of the chest cavity.

Thoracic

Pertaining to the chest area, located between the neck and the abdomen.