On January 1, 2016, Piston, Inc

question 25

Multiple Choice

On January 1, 2016, Piston, Inc.acquired Spur Corp.While recording the acquisition, Piston established a deferred tax liability.It is most likely that this account was created because

• A)​The transaction was a tax-free exchange to Piston.
• B)​Piston had not paid all of the income taxes due the government when acquiring Spur.
• C)​The transaction was a tax-free exchange to Spur.
• D)​Spur had not paid all of the income taxes due the government prior to the acquisition by Piston.

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