What Is the Amount of the Deferred Tax Asset or Liability

question 62

Multiple Choice

What is the amount of the Deferred Tax Asset or Liability on December 31,2010?

• A)a Deferred Tax Asset of $1,500
• B)a Deferred Tax Asset of $375
• C)a Deferred Tax Liability of $1,500
• D)a Deferred Tax Liability of $375

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Definitions:

Schedule

A plan for carrying out a process or procedure, giving lists of intended events and times.

Cost Of Goods Manufactured

Cost of goods manufactured (COGM) is the total production cost of goods completed during a specific period, including materials, labor, and overhead.

Volume Of Activity

A measure of the quantity of work performed or production completed, often influencing costs and revenues in businesses.

Policies And Procedures

Systematic guidelines set by an organization to direct and align its activities and decisions in a consistent manner.