What Is the Journal Entry Required to Recognize a Deferred

question 7

Multiple Choice

What is the journal entry required to recognize a deferred tax asset of $50,000?

• A) Dr. Deferred Tax Asset $50,000, Cr. Income Tax Benefit $50,000
• B) Dr. Deferred Tax Asset $50,000, Cr. Equity $50,000
• C) Dr. Income Tax Expense $50,000, Cr. Deferred Tax Asset $50,000
• D) Dr. Deferred Tax Asset $50,000, Cr. Deferred Tax Liability $50,000

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Definitions:

Workstations

Specialized computer setups or desks designed for professional use, often equipped with powerful hardware to handle demanding tasks.

Task Times

The duration required to complete specific tasks in a process or project.

Assembly Line

An assembly technique where elements are added one after another to efficiently finalize a product.

Required Times

Required Times usually refer to the amount of time needed to complete specific tasks or processes in a production or project schedule.