Which of the Following Results in a Deferred Tax Asset

question 78

Multiple Choice

Which of the following results in a deferred tax asset?

• A) Revenue or gains are recognized earlier for book purposes than for tax purposes.
• B) Operating loss or tax credit carryforwards exist.
• C) Tax basis of an asset is less than its book.
• D) Expenses are deductible earlier for tax purposes than for book purposes.

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Definitions:

FSH and LH

Follicle-stimulating hormone (FSH) and luteinizing hormone (LH) are important hormones in the regulation of the reproductive processes, including gamete production and hormonal control.

Synthetic Steroid Testosterone

A man-made version of the naturally occurring male hormone testosterone, used in medical treatments and sometimes illicitly to enhance athletic performance.

Testes

The male reproductive organs that produce sperm and hormones, including testosterone.

Interstitial Cells

Interstitial cells, found in various organs, often play a role in the production of hormones, such as testosterone in the testes.