In Accounting for Multinational Corporations

Multiple Choice

In accounting for multinational corporations,

A) SFAS 109 requires companies to include taxes on repatriation of foreign earnings as a deferred tax asset.
B) the deferral of foreign earnings is a temporary difference.
C) SFAS 109 allows the parent to exclude taxes on repatriated foreign earnings if they will not be repatriated in the foreseeable future.
D) a corporation with excess foreign tax credits will record a deferred tax liability.