Future taxable amount

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At the December 31, 2010 balance sheet date, Unruh Corporation reports an accrued receivable for financial reporting purposes but not for tax purposes. When this asset is recovered in 2011, a future taxable amount will occur and

Choose one answer.

a. total income tax expense for 2011 will exceed current tax expense for 2011.

b. Unruh will record a decrease in a deferred tax liability in 2011.

c. Unruh will record an increase in a deferred tax asset in 2011.

d. pretax financial income will exceed taxable income in 2011.

Reference no: EM13135047

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