What Is the Opening Balance of the Deferred Tax Liability

question 42

Multiple Choice

What is the opening balance of the deferred tax liability account considering the rate change?

• A)100,000 credit
• B)160,000 credit
• C)120,000 credit
• D)200,000 credit

Analyze the characteristics, assessment methods, and educational strategies for gifted and talented children.

Understand the biological causes of intellectual disability.

Recognize various approaches used in gifted and talented programs.

Identify methodological issues in intelligence research, including the impact of cohort effects.

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Definitions:

Accrued Liabilities

Liabilities recorded on a company's balance sheet for expenses that have been incurred but not yet paid, capturing the company's financial obligations at a particular point in time.

Prepaid Expenses

Costs paid in advance for goods or services, which are recorded as assets to be used or recognized as expense over time.

Direct Method

A cash flow statement presentation method that lists the major categories of gross cash receipts and payments.

Accrued Expenses

Expenses that have been incurred but not yet paid, typically recorded at the end of an accounting period.