Accounting MCQ Accounting Chapter 19 A deferred tax liability is classified on the balance sheet as either a current or a noncurrent liability. The current amount of a deferred tax liability should generally be:

A deferred tax liability is classified on the balance sheet as either a current or a noncurrent liability. The current amount of a deferred tax liability should generally be:

Naim 14:39 Accounting Chapter 19

A deferred tax liability is classified on the balance sheet as either a current or a noncurrent liability. The current amount of a deferred tax liability should generally be:

A. the net deferred tax consequences of temporary differences that will result in net
taxable amounts during the next year.
B. totally eliminated from the financial statements if the amount is related to a
noncurrent asset.
C. based on the classification of the related asset or liability for financial reporting purposes.
D. the total of all deferred tax consequences that are not expected to reverse in the
operating period or one year, whichever is greater.

Answer: based on the classification of the related asset or liability for financial reporting purposes

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Accounting MCQ

A deferred tax liability is classified on the balance sheet as either a current or a noncurrent liability. The current amount of a deferred tax liability should generally be:

A deferred tax liability is classified on the balance sheet as either a current or a noncurrent liability. The current amount of a deferred tax liability should generally be:

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