> > >

Financial Accounting MCQs

The deferred tax liability can have a much larger balance than other liability accounts because:

Most businesses have great tax lawyers

It is the only liability account not listed at it's present value

Businesses have extremely high tax rates and frequently need to push off paying their taxes

The deferred tax liability account is not usually much larger than other liability accounts

Answer

Correct Answer: It is the only liability account not listed at it's present value

Explanation:

Note: This Question is unanswered, help us to find answer for this one

Financial Accounting Skill Assessment

Your Skill Level: Poor

Retake Quizzes to improve it