Accounting Homework Question - Deferred Tax Liabilities and Assets?
I do not understand why I got this wrong on a quiz. Please explain this to me so I can understand when studying for the test.
I have the deferred revenue as a deferred tax asset. I put the insurance expense and depreciation as deferred tax liabilities. After going over this over and over, my numbers are still wrong. Will someone please tell me what I am doing wrong? Thank you.
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