Temporary Differences in the Timing of Expenses and Revenues Always

question 152

True/False

Temporary differences in the timing of expenses and revenues always result in a liability called Deferred Tax Liability.

---

Definitions:

Removed From Reality

A phrase describing a state or condition in which an individual is out of touch with the physical world or current circumstances.

Delusion

A false belief or judgment, often of a paranoid or grandiose nature, that is maintained despite being contradicted by reality or rational argument.

Reincarnation

The belief that the soul, after death, can begin a new life in a new body, a concept found in various religious and philosophical traditions.

Delusion

A strongly held belief that contradicts reality or rational argument, often a symptom of psychiatric disorders.