MSN Deputy Manager Interview Questions and Answers

Deferred tax refers to the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases.

• Deferred tax is a balance sheet item that represents the future tax liability or asset that arises due to temporary differences.

• Temporary differences can occur when there is a difference between the carrying amount of an asset or liabilit...read more

Deferred tax refers to the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases.

• Deferred tax is a balance sheet item that represents the tax effects of temporary differences.

• It arises due to differences in the recognition of income and expenses for tax and accounting purposes.

• Temporary differences can result from tim...read more