An Example of a Deferred Tax Asset Is the Excess

question 41

True/False

An example of a deferred tax asset is the excess of accelerated MACRS depreciation over GAAP straight-line depreciation.

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Definitions:

Biological Evolution

The process by which species of organisms change over time through variations in their genetic material.

Anaerobic Prokaryotes

Microorganisms that thrive in environments devoid of oxygen, obtaining energy through anaerobic processes such as fermentation.

Photosynthetic Prokaryotes

Microorganisms that possess the ability to carry out photosynthesis, such as cyanobacteria, without a defined nucleus.

Primitive Atmosphere

Describes the early Earth's atmosphere, which lacked oxygen and was composed mainly of carbon dioxide, water vapor, nitrogen, and inert gases.