How is deferred tax asset treated in balance sheet?
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Items on a company's balance sheet that may be used to reduce taxable income in the future are called deferred tax assets. ... Therefore, overpayment is considered an asset to the company. A deferred tax asset is the opposite of a deferred tax liability, which can increase the amount of income tax owed by a company.
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Items on a company's balance sheet that may be used to reduce taxable income in the future are called deferred tax assets. ... Therefore, overpayment is considered an asset to the company. A deferred tax asset is the opposite of a deferred tax liability, which can increase the amount of income tax owed by a company.
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