What Is the Amount of the Deferred Tax Asset or Liability

question 30

Multiple Choice

What is the amount of the Deferred Tax Asset or Liability on December 31, 2016?

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

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Definitions:

Uniform Limited Liability Company Act

A set of uniform legal provisions adopted by some states to regulate the formation, operation, and dissolution of LLCs (Limited Liability Companies).

Hybrid Form

A blend or combination of two different elements, forms, or entities.

State Statutes

Laws that have been enacted by the legislative bodies of individual states.

Operating Agreement

A contract among the members of a Limited Liability Company (LLC) that outlines the business's financial and functional decisions including provisions for its governance and operation.