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Disputable question/answer on Income Taxes (Reading 37)
Guys,
Got a quick question for you:
The FRA textbook on page 418 has a problem (#3) as follows:
“Income tax expense reported on a company’s income statement equals taxes payable, plus the net increase in”
A. deferred tax assets and deferred tax liabilities.
B. deferred tax assets, less the net increase in deferred tax liabilities.
C. deferred tax liabilities, less the net increase in deferred tax assets.
Now, I was feeling fairly sure the answer to this would be ‘C’ – But the textbook answer has choice ‘B’ listed instead.
The reasoning behind my choice comes from a simple formula written in Schweser study note as follows:
income tax expense = taxes payable + (net change in DTL) (net change in DTA)
So, wouldn’t choice ‘C’ be the correct one? Am I missing something?
Thanks in advance for any clarification! |
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发表于 2013-4-8 22:50
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