Question

Deferred tax liabilities can arise from a revenue being reported on the tax return _____ the income statement, or an expense being reported on the tax return _____ the income statement.

Answer 1

Answer: After the income statement,

Before the income statement

Explanation:Deferred tax liabilities can arise from either a revenue being reported on the tax return after the income statement or an expense being reported on the tax return before the income statement.