Match the Following

question 50

Multiple Choice

Match the following.You may use a response once,more than once,or not at all.
-Entrepreneurs who are overly optimistic about when they will start earning a profit

• A)Managerial incompetence
• B)Neglect
• C)Control system
• D)Insufficient capital

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Definitions:

Deferred Tax Asset

An asset on the balance sheet that may be used to reduce future tax liability generated due to timing or temporary differences between accounting income and taxable income.

Future Tax

Taxes that are anticipated to be paid or recovered in future periods, often considered in financial projections and planning.

Deferred Tax Assets

These are amounts of income taxes recoverable in future periods due to deductible temporary differences, carry-forward of unused tax losses, and carry-forward of unused tax credits.

Deferred Tax Liabilities

Future tax payments that result from temporary differences between the accounting and tax bases of assets and liabilities.