Information relating to Gordon Corporation for Year 1 and Year 2 is as follows:
(CMA adapted, Jun 86 #10) Refer to the Gordon Corporation example.The amount of deferred income taxes that would have been reported on Gordon Corporation's Statement of Financial Position on December 31, Year 2, is
A) $40,000
B) $32,000
C) $16,000
D) $8,000
E) zero
Correct Answer:
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