Which of the following results in a deferred tax asset?

Question

Quizplus · Accepted Answer

Operating loss or tax credit carryforwards can result in a deferred tax asset because they represent future tax benefits that can be used to offset taxable income in future years. Option A results in a deferred tax liability because it means that taxes will be paid later than currently recognized, options C and D result in deferred tax liabilities because they indicate that taxable income will be greater in future years than currently recognized.

Which of the Following Results in a Deferred Tax Asset