_____ 15.A deferred tax asset is the result of the taxes paid exceeding the tax expense on the financial statements.

Name: _____ 15.A deferred tax asset is the result of the taxes paid exceeding the tax expense on the financial statements.
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Question

Quizplus · Accepted Answer

A deferred tax asset arises when the taxes paid are greater than the tax expense reported, indicating that the company has paid more taxes upfront and can use this excess in future periods to reduce taxable income.

_____ 15A Deferred Tax Asset Is the Result of the Taxes