The Adjustment for the Amount of Future Taxes to Be

Question 46
Multiple Choice

The adjustment for the amount of future taxes to be paid as a result of the MACRS depreciation deduction taken in this and prior years is recorded with a debit to A) Tax Expense and a credit to Deferred Income Tax Liability. B) Deferred Income Tax Liability and a credit to Tax Expense. C) Tax Expense and a credit to Deferred Income Tax Asset. D) Deferred Income Tax Asset and a credit to Tax Expense.