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Basic Question 7 of 7
Which statement(s) is (are) true regarding deferred taxes?
II. Deferred taxes should be measured at the tax rate that is expected to apply when the asset is realized or the liability settled.
III. Deferred taxes should be recognized using the present value of amounts that are expected to be recovered or settled in the future.
I. Deferred taxes should be based on applicable tax rates on the balance sheet date.
II. Deferred taxes should be measured at the tax rate that is expected to apply when the asset is realized or the liability settled.
III. Deferred taxes should be recognized using the present value of amounts that are expected to be recovered or settled in the future.
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| khalifa92 | I. assessed but not based on. |
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Colin Sampaleanu
Learning Outcome Statements
contrast accounting profit, taxable income, taxes payable, and income tax expense and temporary versus permanent differences between accounting profit and taxable income
CFA® 2025 Level I Curriculum, Volume 3, Module 9.