Deferred tax assets may arise from amounts of income taxes recoverable in future periods that arise from carry forward of unused tax losses.

Name: Deferred tax assets may arise from amounts of income taxes recoverable in future periods that arise from carry forward of unused tax losses.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is true as deferred tax assets can arise when a company has unused tax losses that can be carried forward to offset future taxable income, resulting in lower taxes payable and a potential future tax benefit.

Deferred Tax Assets May Arise from Amounts of Income Taxes