Deferred Taxes Result From

question 90

Multiple Choice

Deferred taxes result from:

• A) The fact that bond interest is deductible in the computation of taxable income.
• B) Depositing income taxes due in future years in a special fund managed by an independent trustee.
• C) Timing differences between certain revenue and expense items recognized in financial statements and in income tax returns.
• D) The inability of a bankrupt company to pay its income tax liability on schedule.