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Basic Question 0 of 5
Bay Tree Golf Corp. recorded a deferred income tax liability in 2015. The amount resulted from Bay Tree's book income exceeding its taxable income. The liability is expected to reverse in 2020, when taxes will become currently payable. At the end of 2015, which one of the following describes the valuation of deferred income taxes payable?
B. Amortized cost
C. Current market value
A. Historic cost
B. Amortized cost
C. Current market value
User Contributed Comments 1
| User | Comment |
|---|---|
| achu | Historic cost is essentially nominal (undiscounted) cost |
I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt
Learning Outcome Statements
demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity
recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct
identify conduct that conforms to the Code and Standards and conduct that violates the Code and Standards
CFA® 2025 Level I Curriculum, Volume 6, Module 3.