A Taxable Temporary Difference Always Results in the Recognition of a Deferred

question 14

True/False

A taxable temporary difference always results in the recognition of a deferred tax liability.

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Definitions:

Specific Performance

A legal remedy in contracts where the court orders the party who breached the contract to perform the promised duty as outlined in the contract.

Breach of Contract

The failure to perform any term of a contract, written or oral, without a legitimate legal excuse.

Caveat Emptor

A legal principle that the buyer assumes the risk of quality in a purchase unless protected by warranty.

Sale of Goods Act

Legislation governing the sale of goods, including provisions on the formation of contracts, descriptions of goods, quality, and return policies.