What is deferred tax liability and deferred tax liability in accounting?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter18: Accounting For Income Taxes
Section: Chapter Questions
Problem 20GI
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What is
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Step 1
A deferred tax liability:
A deferred tax liability is an income tax obligation that is due for the current period but not paid. The deferral occurs due to the difference in timing between tax accrued and tax paid.
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