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Which of the Following Is True

Question 35

Multiple Choice

Which of the following is true?


A) A deductible temporary difference is a temporary difference that results in future taxable income being more than accounting income.
B) A Deferred Tax Liability is the amount of income tax payable in future deferred tax liability periods as a result of taxable permanent differences.
C) A Taxable Temporary Difference is a temporary difference that results in future taxable income being less than accounting income.
D) A deferred tax asset is the amount of income tax recoverable in future periods as a result of deductible temporary differences, losses carried forward, or tax credits carried forward.

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