If the Amount of Income Taxes Expense Exceeds the Amount

question 83

True/False

If the amount of income taxes expense exceeds the amount of actual income taxes payable for a year, the difference is recorded by a debit to a balance sheet account called Deferred Income Taxes.

---

Definitions:

Stock Dissipation Rate

The rate at which a particular stock (such as a natural resource) is reduced due to its use or consumption.

Current Emissions

The amount of pollutants or greenhouse gases released into the atmosphere in a given period of time.

Pollutants

Substances that contaminate the environment, causing harm to ecosystems and human health, including chemicals, noise, and waste products.

Stock Externality

Accumulated result of action by a producer or consumer which, though not accounted for in the market price, affects other producers or consumers.