Q1. If timing differences that give rise to a deferred tax liability are not expected to reverse then the deferred tax: A) must be reduced by a valuation allowance. B) should be considered an asset or liability. C) should be considered an increase in equity.
Q2. For purposes of financial analysis, an analyst should: A) always consider deferred tax liabilities as stockholder's equity. B) always consider deferred tax liabilities as a liability. C) determine the treatment of deferred tax liabilities on a case-by-case basis.
Q3. Which of the following factors will NOT impact the classification of deferred tax liabilities? A) Present value of the future payments. B) Growth of the firm. C) Changes in firm operations.
Q4. Which of the following financial ratios is least likely to be affected by classification of deferred taxes as a liability or equity? A) Return on equity (ROE). B) Return on assets (ROA). C) Debt-to-total assets.
Q5. Deferred tax liabilities might be considered neither a liability nor equity, when: A) some components are likely to reverse and some components will grow. B) non-reversal is certain. C) financial statement depreciation is inadequate.
Q6. For analytical purposes, if a deferred tax liability is expected to not be reversed, it should be treated as a(n): A) immaterial amount and ignored. B) an addition to equity. C) liability.
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发表于 2009-1-19 10:35
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