What is the amount of the Deferred Tax Asset or Liability on December 31, 2017?
A) a Deferred Tax Liability of $1,350
B) a Deferred Tax Liability of $375
C) a Deferred Tax Asset of $1,350
D)a Deferred Tax Asset of $1,675

Question

Quizplus · Accepted Answer

The Deferred Tax Liability of $1,350 is calculated based on the temporary differences between the book and tax bases of assets and liabilities, multiplied by the tax rate.

What Is the Amount of the Deferred Tax Asset or Liability