Book income tax expense could equal current taxes payable to the IRS plus the increase in deferred tax liabilities plus the increase in deferred tax assets.

Name: Book income tax expense could equal current taxes payable to the IRS plus the increase in deferred tax liabilities plus the increase in deferred tax assets.
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Question

Quizplus · Accepted Answer

Book income tax expense may not always equal current taxes payable plus the increases in deferred tax liabilities and assets due to various adjustments and timing differences.

Book Income Tax Expense Could Equal Current Taxes Payable to the IRS