Question 9 answers
Question 10 text
10. Assuming that C.J. Company opts only to carryforward its 2011 NOL, what is the amount of deferred tax asset or liability that C.J. Company would report on its December 31, 2011 balance sheet?
Question 10 answers
Amount and Deferred tax asset or liability
a. $75,000 -- Deferred tax liability
b. $87,500 -- Deferred tax liability
c. $100,000 -- Deferred tax asset
d. $75,000 -- Deferred tax asset
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This question was asked on Apr 25, 2010 and answered on Apr 27, 2010.
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