Under FAS 109, deferred income taxes need not be recorded at the combination date only if they are reasonably expected to be paid.

Name: Under FAS 109, deferred income taxes need not be recorded at the combination date only if they are reasonably expected to be paid.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

Under FAS 109 (ASC 740), deferred income taxes should be recognized for all temporary differences at the combination date, regardless of whether they are expected to be paid in the near future.

Under FAS 109, Deferred Income Taxes Need Not Be Recorded