A Deferred Tax Liability Arising from the Use of an Accelerated

question 14

Multiple Choice

A deferred tax liability arising from the use of an accelerated method of depreciation for tax purposes and the straight-line method for financial reporting purposes would be classified on the balance sheet as

• A) a current liability.
• B) a noncurrent liability.
• C) a current liability for the portion of the temporary difference reversing within a year and a noncurrent liability for the remainder.
• D) an offset to the accumulated depreciation reported on the balance sheet.

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Definitions:

Clean-Catch

A method used during urine collection to minimize microbial contamination of the urine specimen.

24-Hour

refers to a full day period, consisting of 24 consecutive hours.

Powdered Preservative

A substance in powder form added to foods, pharmaceuticals, and other products to prevent decomposition by microbial growth or by undesirable chemical changes.

Collection Container

A device or vessel used to gather and hold substances, often for laboratory analysis or medical purposes.