current and deferred tax expense
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 21CE
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Question
![Which of the following statements is correct regarding current and deferred tax expense?
O A. Deferred tax expense is equal to the change in deferred tax liability or asset from
the beginning
of the year to the end of the year
B. Current tax expense is equal to the income taxes payable on the corporate tax
return, assuming
no estimated tax payments were made.
C. Total tax expense is equal to the current tax expense plus deferred tax expense
minus deferred
tax benefit during the year
O D. All of these statements are correct regarding current and deferred tax expense.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F867d19ec-46c2-4d30-a30f-4c10e1287aa5%2F1f9a5c44-859a-4932-b186-2dbca0828819%2Fpc4pz2_processed.png&w=3840&q=75)
Transcribed Image Text:Which of the following statements is correct regarding current and deferred tax expense?
O A. Deferred tax expense is equal to the change in deferred tax liability or asset from
the beginning
of the year to the end of the year
B. Current tax expense is equal to the income taxes payable on the corporate tax
return, assuming
no estimated tax payments were made.
C. Total tax expense is equal to the current tax expense plus deferred tax expense
minus deferred
tax benefit during the year
O D. All of these statements are correct regarding current and deferred tax expense.
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