Solved: The cumulative temporary difference to date is 40 million, Accounting Basics

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The cumulative temporary difference to date is 40 million

Differences between financial statement and taxable income were as follows:

The cumulative temporary difference to date is $40 million (also the future taxable amount). The enacted tax rate is 40%. What is deferred tax asset or liability to be reported in the balance sheet?

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Accounting Basics: The cumulative temporary difference to date is 40 million

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Accounting Basics: The cumulative temporary difference to date is 40 million

Reference No:- TGS01350798

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