Multiple Choice
Use the following to answer questions
For its first year of operations,Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:
Tringali's tax rate is 40%.Assume that no estimated taxes have been paid.
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Tringali's tax rate is 40%.
What should Tringali report as its deferred income tax liability as of the end of its first year of operations?
A) $35,000.
B) $20,000.
C) $14,000.
D) $ 8,000.
Correct Answer:
Verified
Correct Answer:
Verified
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