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Which of the Following Statements Best Describes the Disclosure of a Company's

Question 71

Multiple Choice

Which of the following statements best describes the disclosure of a company's deferred tax assets and liabilities beginning in 2016?

A) All deferred tax assets and liabilities are treated as noncurrent and can be netted and disclosed as one aggregate amount on the balance sheet.
B) Deferred tax assets and liabilities must be separately disclosed in the balance sheet.
C) Current deferred tax assets and liabilities and noncurrent deferred tax assets and liabilities can always be netted on the balance sheet.
D) All deferred tax assets and liabilities are treated as noncurrent and can be netted on the balance sheet only if they arise in the same tax jurisdiction.

Correct Answer: