ch19 - CHAPTER 19 ACCOUNTING FOR INCOME TAXES MULTIPLE...

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CHAPTER 19 ACCOUNTING FOR INCOME TAXES MULTIPLE CHOICE —Conceptual Answer No. Description d 1. Reasons for disclosure of deferred income tax information. a 2. Rationale for interperiod tax allocation. b 3. Differences between taxable and accounting income. c 4. Differences between taxable and accounting income. a 5. Determination of income tax expense. b 6. Determination of deferred tax expense. d 7. Causes of a deferred tax liability. c 8. Situation requiring interperiod tax allocation. d 9. Permanent differences and interperiod tax allocation. b 10. Permanent differences. c 11. Identify a permanent difference. d 12. Identification of permanent differences. d 13. Identification of temporary differences. a 14. Differences arising from depreciation methods. d 15. Difference due to the equity method of investment accounting. b 16. Difference due to unrealized loss on marketable securities. c 17. Appropriate tax rate for deferred tax amounts. b 18. Recognition of tax benefit of a loss carryforward. c 19. Classification of deferred income tax on the balance sheet. b 20. Classification of deferred income tax on the balance sheet. d 21. Basis for classification as current or noncurrent. d 22. Income statement presentation of a tax benefit from NOL carryforward. c 23. Procedures for computing deferred income taxes. MULTIPLE CHOICE —Computational Answer No. Description a 24. Calculate current/noncurrent portions of deferred tax liability. b 25. Calculate deferred tax liability with changing tax rates. d 26. Calculate amount deducted for depreciation on the tax return. a 27. Calculate income tax expense for the year. d 28. Calculate amount of deferred tax asset to be recognized. c 29. Calculate current deferred tax liability. b 30. Determine income taxes payable for the year. d 31. Calculate amount of deferred tax asset to be recognized. c 32. Calculate current/noncurrent portions of deferred tax liability. b 33. Calculate amount of deferred tax asset to be recognized. d 34. Calculate deferred tax asset with temporary and permanent differences.
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Test Bank for Intermediate Accounting, Eleventh Edition MULTIPLE CHOICE—Computational (cont.) Answer No. Description a 35. Calculate installment accounts receivable. d 36. Calculate loss to be reported after NOL carryback. d 37. Calculate loss to be reported after NOL carryback. b 38. Calculate loss to be reported after NOL carryforward. a 39. Determine income tax refund following an NOL carryback. MULTIPLE CHOICE —CPA Adapted Answer No. Description a 40. Determine current income tax liability. a 41. Determine current income tax liability. d 42. Calculate deferred tax liability and income taxes currently payable. b
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ch19 - CHAPTER 19 ACCOUNTING FOR INCOME TAXES MULTIPLE...

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