答案和详解如下： 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. Correct answer is C) If deferred tax liabilities are expected to reverse in the future, then they should be classified as liabilities. If, however, they are not expected to reverse in the future, then they should be classified as 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. Correct answer is C) For financial analysis, an analyst must decide on the appropriate treatment of deferred taxes on a case-by-case basis. These can be classified as liabilities or stockholder’s equity, depending on various factors. Sometimes, deferred taxes are just ignored altogether. 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. Correct answer is A) The present value of the future payments will not impact the classification of deferred tax liabilities. Growth of the firm and the firm’s operations can each have an impact on classification of deferred tax liabilities. These can result in non-payment of deferred taxes even if they are reversed. 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. Correct answer is B) The ROA will not be affected by the classification of the deferred taxes. The total assets will remain the same regardless of whether the deferred taxes are classified as a liability or equity. 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. Correct answer is C) In some cases, an analyst will not consider the deferred tax liabilities either liability or equity. This is done if non-reversal is uncertain or when financial statement depreciation is deemed inadequate and, therefore, is difficult to justify increasing stockholder’s equity. 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. Correct answer is B) If deferred tax liabilities are expected to never reverse, they should be treated as equity for analytical purposes. This situation usually arises because of growth in capital expenditures. | 
发表于 2009-1-19 10:35
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