The correct method for calculating the amount of a deferred tax liability or asset may be expressed as a formula as follows:
A) (Carrying amount of assets or liabilities - tax bases of assets or liabilities) * tax rate.
B) Carrying amount of assets or liabilities - (tax bases of assets or liabilities * tax rate) .
C) Carrying amount of assets or liabilities - tax bases of assets or liabilities * tax rate.
D) Carrying amount of assets or liabilities - tax bases of assets or liabilities.
E) None of the given answers.
Correct Answer:
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